Newsletter

Dear friends,

Welcome to newsletter #14 of the Network for Justice in Global Investment (NJGI).

In this issue we focus on the recent multimillion-dollar ICSID ruling against Ecuador in which the state has been ordered to pay massive compensation to U.S. company Occidental Petroleum Corporation (Oxy) for the cancellation of its operating contract in 2006. The judgment against the Andean country was announced in early October and has already been challenged in the same court by the Correa government.  To hear the voice of civil society, NJGI spoke to the Ecuador Decide network regarding the case.

In other news, we feature the threats by a Canadian mining company to take Bolivia to international arbitration for a recent mine nationalization, news and updates on the Trans-Pacific Partnership Agreement, the US supreme court ruling on the Chevron case, an analysis of UNCTAD’s recently published Investment Policy Framework for Sustainable Development, and more.

Remember that this and other information, resources, and analysis are available on our website. They will help you stay informed about the debate on global investment rules.

Institute for Policy Studies
The Democracy Center

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

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. For this reason, NJGI decided to contact Ecuador Decide (a network of diverse social organizations that was formed in 2004 to prevent the signing of a free trade agreement between Ecuador and the United States) to hear their analysis and perspective on the case.

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OTHER HOT TOPICS:

South American Silver notifies Bolivia of investment dispute

Source: Miningweekly.com / By Henry Lazenby

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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

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BITs, FTAs and damaging effects of their investment chapters

Source: bilaterals.org

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South Africa, European Union lock horns

Source: Bdlive.co.za / By Jana Marais

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Investment policy for sustainable development, UNCTAD proposes (September 2012)

Source: Coc.org / By Aldo Caliari

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Statement on the Trans Pacific Partnership and the onerous investment state provisions.

Source: Officeofpublicwitness.blogspot.com

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Leesburg: No Back Room Deals for the 1%

Source: Citizenstrade.org / By CTC

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