Latin American Countries Band Together To Fight Growing Problem Of Investor-State Disputes

from the US/EU-take-note dept

As Techdirt has observed, investor-state dispute resolution (ISDR) is turning into a major weapon that corporations can deploy against nations in order to claim damages for some alleged loss of future profits as a result of government action -- for example, stricter health or environmental regulations. Last year alone, 62 new investment arbitration cases were initiated against nations, and a record award of $1.77 billion was made against Ecuador.

Given that fact, it is perhaps not so surprising to see that country leading a new alliance of nations affected by ISDR and aiming to fight back:

Leaders of several Latin American countries have set up a new coalition to coordinate actions to face the growing number of international legal suits being taken against governments by transnational companies.