July 14, 2020: Canadian company Barrick Gold announced on July 10 that its Australian subsidiary, Barrick Australia Pty Ltd, is invoking the investor-state dispute settlement (ISDS) provisions of a bilateral investment treaty between Papua New Guinea (PNG) and Australia over the PNG government’s refusal to grant an extension of the company’s expired permit at the controversial Porgera Joint Venture gold mine in the PNG highlands.
Investor-State Dispute Settlement (ISDS)
ISDS allows foreign investors to sue our Government
July 13, 2020: In a blunt statement issued on July 6, 2020, Cardinal Jean-Claude Hollerich of Luxembourg, and Cardinal Charles Maung Bo of Yangon, Myanmar, added their names to a statement by 110 Catholic Bishops calling on governments to better regulate private corporations, and said the European Union must lead the way.
July 7, 2020: Prairie Mining, an Australian company using third-party funding from another Australian company, Litigation Capital Management, has announced an investment treaty claim against Poland over the obstruction of two coal projects. An LCM subsidiary in London has provided A$18 million to finance the action. LCM will get a profitable investment return if Prairie Mining wins the case.
June 11, 2020: The World Trade Organisation appellate body decision against several countries that challenged Australia’s plain packaging law is the final victory in a ten-year battle against tobacco companies’ use of trade and investment law against public health.
May 7, 2020: Economist Professor Jeffrey Sachs and six other global figures have called for an immediate moratorium on all Investor-State Dispute Settlement claims and a permanent restriction on all such claims related to government action to contain the COVID-19 pandemic.
May 4, 2020: The India Economic Times reports that 15 countries still trying to finalise the proposed Regional Comprehensive Economic Partnership have made an offer to India on market access, and asked it to respond by May 15.