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Lilly

The Obscure Legal System That Lets Corporations Sue Countries

8 posts in this topic

http://www.theguardian.com/business/2015/jun/10/obscure-legal-system-lets-corportations-sue-states-ttip-icsid

 

[snip] Parada, a soft-spoken 55-year-old from El Salvador, is one of a handful of lawyers in the world who specialise in defending sovereign states against lawsuits lodged by multinational corporations. He is the lawyer for the defence in an obscure but increasingly powerful field of international law – where foreign investors can sue governments in a network of tribunals for billions of dollars.

 

Fifteen years ago, Parada’s work was a minor niche even within the legal business. But since 2000, hundreds of foreign investors have sued more than half of the world’s countries, claiming damages for a wide range of government actions that they say have threatened their profits. In 2006, Ecuador cancelled an oil-exploration contract with Houston-based Occidental Petroleum; in 2012, after Occidental filed a suit before an international investment tribunal, Ecuador was ordered to pay a record $1.8bn – roughly equal to the country’s health budget for a year. (Ecuador has logged a request for the decision to be annulled.)

 

Parada’s first case was defending Argentina in the late 1990s against the French conglomerate Vivendi, which sued after the Argentine province of Tucuman stepped in to limit the price it charged people for water and wastewater services. Argentina eventually lost, and was ordered to pay the company more than $100m. Now, in his most high-profile case yet, Parada is part of the team defending El Salvador as it tries to fend off a multimillion-dollar suit lodged by a multinational mining company after the tiny Central American country refused to allow it to dig for gold.

Edited by Lilly

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From what little info is out there about the TPP, it seems that one of the main issues of that is the same as what your article above states and that is the ability for corporations to sue for future lost profits. Not profits that were actually lost. This turns the legal system upside down because this essentially let's them estimate profits and that is how they are showing "damages" rather than having to show actual monetary losses/actual damages. Mind boggled!

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From what little info is out there about the TPP, it seems that one of the main issues of that is the same as what your article above states and that is the ability for corporations to sue for future lost profits. Not profits that were actually lost. This turns the legal system upside down because this essentially let's them estimate profits and that is how they are showing "damages" rather than having to show actual monetary losses/actual damages. Mind boggled!

​Absolutely. And for now - thank goodness - the ISDS provisions are the straw that broke the camels back on the TTIP. Instead of a vote today in the European parliament on a resolution which is considered essential for the TTIP negotiations to continue, it's been sent back for a do over.

I'm sure the monster will soon be back on the scene but today is a good day, (and the raspberries are ripe too. OMG yummm :smile: )

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The way to wreak havoc on these companies is the old spend 50 cents to do 500 dollars of damage. So who owns these corporations? fucking jews

I'm all for free speech. Your constant filthy dumping on Jews, however, does not belong in a public forum. Register and post -- or go away, the latter preferably. If you are a Zionist shill, get a real job.

 

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I haven't seen Lilly around lately.  Hope she comes back to the forum.

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I haven't seen Lilly around lately.  Hope she comes back to the forum.

​I just talked to her in emails today, I think she's just really busy with stuff right now.

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Thanks, Cinn! I keep forgetting you're a mod. And one of the reasons I loiter on the premises.               :bSLfSaC:

Plus, COP stays on nwo topics. Like this one, which I hadn't heard of before, global corporations ripping off countries as well as people. 

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Thanks, Cinn! I keep forgetting you're a mod. And one of the reasons I loiter on the premises.               :bSLfSaC:

Plus, COP stays on nwo topics. Like this one, which I hadn't heard of before, global corporations ripping off countries as well as people. 

​lol You're welcome! :a9jDaFH: And thank you, too. I'm glad people can forget I'm a mod. I like posting, too.

 

Edited by Cinnamon

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