5 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]

    1. Vattenfall hatte Deutschland 2012 nach dem Atom-ausstieg vor einem internationalen Schiedsgericht in Washington auf Schadenersatz in Höhe von fast 4,7 Milliarden Euro verklagt. Zusätzlich kann Vattenfall im Erfolgsfall aber auch noch Verzugszinsen von jährlich gut vier Prozent oder rund 190 Millionen Euro geltend machen. "Die Bundesregierung rechnet derzeit mit einer mündlichen Verhandlung im Sommer 2016", heißt es in der Antwort.

      This is a great example of the problems with TTIP.


      "Vattenfall had sued Germany in 2012 after the atomic got out damages amounting to nearly 4.7 billion euros to an international arbitration court in Washington. In addition, Vattenfall can make default interest per annum over four per cent, or around EUR 190 million claim, if successful, but still. "The federal government currently expects a hearing in the summer of 2016", according to the response."