ISDS have been a part of trade agreements for 30 years. Up until now however the Court that ruled on the dispute was a properly constituted Court of the Country involved. So the decisions followed the law of that Country, and the rule of law generally. Not anymore. Under the TPP the dispute will be ruled on by a Court comprised of staff from the Multinationals. So given their new power to resolve cases in their own favour, let us have a look at all the times (much weaker) ISDS laws were used against Sovereign Governments and against the best interests of their citizens. 

7 November 2018: Investment law expert slams investor rights to sue government (ISDS). George Kahale III, an internationally recognised expert on ISDS, in the keynote speech to an investment arbitration conference in Prague, has described the system as a weapon of legal destruction’. He says that ISDS is increasingly used to claim not only millions but billions of dollars of compensation for legitimate government public interest regulation using dubious methods to calculate future claimed losses. He notes that the US and Canada have agreed to end ISDS in the United States-Canada-Mexico agreement which will replace NAFTA and urges other governments to withdraw from or cancel existing agreements containing ISDS. Read the full speech h/t http://aftinet.org.au 

 

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