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Ecuador withdraws from ICSID?

over 13 years ago

Ecuador intends to prevent oil and mining disputes from going to the Bank's International Centre for the Settlement of Investment Disputes (ICSID). Bolivia announced in May that it wished to withdraw from ICSID; Venezuela and Nicaragua have said that they intend to do so (see Update 56). Bolivia's withdrawal is being contested by ICSID's ruling allowing a claim lodged by a subsidiary of Telecom Italia. Ecuador could either withdraw completely, or tell ICSID that it no longer wishes to allow certain categories of disputes to be arbitrated, though this might not carry legal weight. Ecuador is facing a billion dollar claim brought by US oil giant Occidental.

Threats to withdraw from Bank's investment tribunal News|Bretton Woods Project|2 July 2007|update 56|url
End April the leaders of Bolivia, Venezuela, and Nicaragua agreed to withdraw from the World Bank's International Centre for the Settlement of Investment Disputes, a tribunal which rules on cases against governments brought by foreign investors. read article...
¿Se retira Ecuador del ICSID? News|Bretton Woods Project|19 December 2007|update 58|url
Ecuador intenta evitar que las disputas del petróleo y la minería lleguen al Centro Internacional del Banco para la Conciliación de Disputas de Inversión (ICSID - Bank's International Centre for the Settlement of Investment Disputes). read article...
Venezuela v. Exxon back to ICSID? News|Bretton Woods Project|1 April 2008|update 60|url
Venezuela has asked Exxon Mobil to go back to the World Bank's International Centre for the Settlement of Investment Disputes, and drop lawsuits filed in other courts in London and New York. read article...
ICSID in crisis Straight-jacket or investment protection? News|Bretton Woods Project|10 July 2009|update 66|url
The International Center for the Settlement of Investment Disputes (ICSID) is facing an explosion of cases and increasingly vocal criticism from Latin American countries. Questions remain over whether it helps channel productive investment to developing countries or serves as a tool for multinational corporations to get their way. read article...