IPFS News Link • Bank of International Settlements
Ecuador Moves to Annul U.S.-Ecuador BIT, Denounces Investor-State System
• citizen.typepad.comThe U.S.-Ecuador BIT binds Ecuador to the controversial investor-state system, which uniquely empowers foreign investors to directly challenge a country’s environmental, health, and other public interest laws by claiming that they violate BIT-created investor privileges and threaten “expected future profits.” These cases skirt national court systems and are instead decided by private three-person tribunals composed of arbitrators who bill by the hour.