4 Matching Annotations
  1. Jun 2016
    1.    (xv) to ensure that foreign investors are treated in a non-discriminatory fashion, while benefiting from no greater rights than domestic investors, and to replace the ISDS system with a new system for resolving disputes between investors and states which is subject to democratic principles and scrutiny, where potential cases are treated in a transparent manner by publicly appointed, independent professional judges in public hearings and which includes an appellate mechanism, where consistency of judicial decisions is ensured, the jurisdiction of courts of the EU and of the Member States is respected, and where private interests cannot undermine public policy objectives;

      We should look no further than the European Parliament when wondering whether the ISDS is an effective system for dispute resolution!

    1. $50 billion award grant-ed by an arbitration tribunal in July 2014 to three shareholders in Russian oil company Yukos against the Russian government.

      Background here

    2. In the infamous suit brought by Vattenfall against the German government over its decision to phase out nuclear power by the year 2022, described in the original text of this booklet, reports now suggest that the total amount claimed in damages by the Swedish energy company may exceed €5 bil-lion, once interest payments are taken into account.

      This is a key example of how the principle of "Denial of Justice" in TTIP can be quite problematic. [Source article]