The International Centre for Settlement of Investment Disputes (ICSID) registered its second strongest year in the organizations history with 58 cases, according to its newly-released caseload statistics report this week. The ICSID’s report is considered an important indicator of international investment settlement dispute trends.
Of the new cases 28% involved the oil, gas and mining industries and 19% transportation. the largest numer of cases involved state actors in Eastern Europe and Central Asia with 24%, South America with 19% and North America with 16%.
The organization’s tribunals judged in favor of investors 53% of the cases while rejecting their claims 36%. The organization rejected jurisdiction in 11% of the cases.
NAFTA and the USMCA agreements accounted for 14% of all the cases while various bilateral trade agreements accounted for 53% of the agreements.
This week Russian-Israeli businessman Mikhail Fridman launched an ICSID claim against Ukraine regarding a beverage production company. The republic of Costa Rica in July won a case against the Canadian mining company Infinito Gold over measures taken to protect the environment and local communities from the harm caused by open-pit mining activities.
by Staff
