TPP ISDS - (Investor State Dispute Settlements) Chapter

 

Some examples of previous and ongoing investor disputes include:

     * Lone Pine Resources has a US$250 million claim against Canada under NAFTA.  Lone Pine says Quebec's 2-year moratorium on fracking violates its "right to mine" and jeopardizes its projected profits.  
     * In 2012 Occidental Petroleum was awarded US$1.76 billion plus US$589 million in compound interest against Ecuador. A tribunal found that Ecaudor breached rules on fair and equitable treatment, even though Occidental had breached the contract in ways which entitled Ecuador to cancel the contract.  

 

     * Chevron has fought remediation of Amazon basin for 18 years. Chevron lost its case against Amazon remediation in Ecuador's courts.  Chevron sued Ecuador for US$18 billion under ISDS.  Under ISDS, Ecuador was also ordered to suspend enforcement of the national court's decision. 

 

     * Oceania Gold recently bought Canadian Pacific Rim mining, so it could use ISDS to sue El Salvador for not granting it a mining licence. 

 

     * The number of ISDS cases would carry on exponentially increasing.