About the Project

The Network for Justice in Global Investment is a joint effort by citizens and organizations in a variety of countries to challenge one of the most anti-democratic aspects of the global economic order – the rules governing international investment. Read More.

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ICSID orders Ecuador to pay $1.7 billion to Occidental Petroleum – Interview with the Ecuador Decide Network

October, 2012

By Aldo Orellana López, for NJGI

In recent weeks Ecuadorian authorities and civil society have been hit with a worrying piece of news. The Ecuadorian state has been ordered to pay $ 1.7 billion plus interest to the U.S. Company Occidental Petroleum Corporation (Oxy) for having canceled its operating contract in 2006. The authorities’ argument at the time was that the company

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South American Silver notifies Bolivia of investment dispute

Source: Miningweekly.com

By: Henry Lazenby

23rd October 2012

TORONTO (miningweekly.com) – TSX-listed South American Silver (SAS) on Tuesday said it had notified the Plurinational State of Bolivia of an investment dispute, after the company’s subsidiaries had lost its mineral tenements.

The company’s announcement sent its shares racing up 32.53% or 27 Canadian cents on a day when the Toronto bourse closed 1.43% down.

The

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China Investment Treaty: Expert Sounds Alarms in Letter to Harper

Source: Thetyee.ca

Toronto-based authority urges PM to halt ratification, laying out numerous ‘deep’ concerns.

By Gus Van Harten, 16 Oct 2012, TheTyee.ca

[Editor's note: Gus Van Harten, a global authority on investment trade deals and international arbitration panels, has written a letter to Prime Minister Stephen Harper urging a full public review of a highly controversial investment and promotion treaty with China, the world's second

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EU, US to Negotiate Free-Trade Deal From Spring 2013

Source: Cnbc.com

17 Oct 2012

Europe and the United States are set to launch trade talks early next year to deepen the world’s largest trading relationship, EU and U.S. officials say, potentially unleashing billions of euros of new transatlantic business.

Together, the bloc and the United States account for about half the world’s economic output and nearly a third of world trade. But a

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U.S. Supreme Court Refuses to Hear Chevron’s Case to Block $18.2 Billion Penalty for Amazon Pollution

Source: Public Citizen

October 16, 2012

In the most recent development in the historic case against Chevron’s appalling pollution in the Amazon, the U.S. Supreme Court refused to hear Chevron’s appeal of a lower court ruling last week.  In so doing, the Supreme Court produced yet another denial of the company’s attempt to block an $18.2 billion dollar judgment against the company in Ecuador.

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Prime Minister Harper’s free trade strategy endorses conflict-ridden mining industry

Source: Thestar.com

October 15, 2012

Jen Moore

 

The Harper government’s trade agenda is front and centre this parliamentary term as the Conservatives seek to open new markets.

While coverage of Asia-Pacific and EU agreements dominate public debate, other bilateral agreements have been quietly making their way through Parliament. The House of Commons trade committee recently passed legislation to implement the Canada-Panama free

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Ecuador ordered to pay Occidental $1.77 billion in damages

Source: Brecorder.com

October 07, 2012

The World Bank’s arbitration centre (ICSID) has ordered Ecuador to pay nearly $1.77 billion in damages to US-based Occidental Petroleum for seizing the company’s assets in 2006, but the Andean country said it would appeal the decision. It also ordered Ecuador to pay pre-award interest on the amount at the rate of 4.188 percent per annum, compounded annually from

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Ecuador to appeal against $1.8 bn ruling in oil dispute

Source: Brecorder.com

October 7th 2012

QUITO: Ecuador said Saturday it will appeal a ruling declaring it must pay $1.77 billion to Occidental Petroleum as compensation for canceling a contract with the American oil giant.

That much money is equivalent to Ecuador’s entire education budget for a year, said President Rafael Correa.

The ruling was released Friday by the International Center for Settlement of Investment

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BITs, FTAs and damaging effects of their investment chapters

Source: bilaterals.org

October 8th 2012

TWN Info Service on WTO and Trade Issues (Oct12/02)

Published in SUNS #7449 dated 2 October 2012

Geneva, 1 Oct (Meena Raman) — The damaging effects of Bilateral Investment Treaties (BITs) and the investment chapters of North-South Free Trade Agreements (FTAs) were highlighted at a World Trade Organisation (WTO) Public Forum held last week.

The WTO Public Forum on

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No compensation for seized Canadian mine: Bolivia

Source: Theglobeandmail.com

Oct. 03 2012

Bolivia ruled out paying compensation to South American Silver (SAS) on Wednesday, two months after its leftist government nationalized a mine operated by the Canadian firm.

“The nation has no financial obligation to South American Silver,” Mining Minister Mario Virreira told reporters.

Bolivia’s President Evo Morales expropriated the silver and indium mine managed by a local unit of SAS

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Ecuador Says It Expects Ruling in Occidental Case This Week

Source: Online.wsj.com

October 1, 2012

QUITO, Ecuador–The World Bank’s International Center for Settlement of Investment Disputes is expected to rule this week on a case brought by U.S. oil company Occidental Petroleum Corp. (OXY) against Ecuador, Ecuador’s Attorney General Diego Garcia said Monday.

“We are arriving at the final stage of the process,” Mr. Garcia told reporters in Quito. “The ruling will come by

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Kirk: U.S.-Panama trade deal to go into effect soon

Source: Kansascity.com

Sep. 28, 2012

Mimi Whitefield/Miami Herald

U.S. Trade Representative Ron Kirk said Friday that he expects the long-delayed U.S.-Panama Free Trade Agreement to go into effect shortly.

“We’re pretty close,’’ said Kirk, who addressed the Beacon Council, Miami-Dade’s public/private economic development agency. He said he was confident that before the end of the year, the U.S.-Panama Free Trade Agreement would be operating.

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Canada-China Foreign Investment Promotion And Protection Agreement ‘A Corporate Rights Pact,’ Council Of Canadians Says

Source: huffingtonpost.ca

October 1 2012

By Daniel Tencer

A China-Canada trade agreement the Harper government signed earlier this month amounts to a “corporate rights pact” that will make it harder for Canada to enforce environmental, energy and financial policies, the Council of Canadians says.

The left-leaning citizens’ group has issued a statement saying the Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) would lead to

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