Page 7 - ENGLISH MONTT GROUP, MAYO 2024

MONTT GROUP MAGAZINE - 2024
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total litigation against Latin American countries. According to the report on international arbitration, Impacts of investor arbitration claims against Latin American and Caribbean States, by authors Bettina Müller and Luciana Ghiotto, members of the Transnational Institute (TNI), —an international think tank left-wing organization that runs a network for academics and activists— the numbers are staggeringly high.
According to data collected until mid-2021, which has not changed much until the last collection, the World Bank’s Icsid received 77.6 percent of the total lawsuits known against States. Litigations related to mining, gas and oil accounted for 22.6 percent of the total; 86.8 percent of the lawsuits were initiated by American, Canadian and European investors, among which Spain, the Netherlands, Great Britain and France stood out.
Paying Large sums
Due to this, the Governments were forced to pay the sum of US$33,638 million. According to the study cited by the Transnational Institute (TNI): “The first lawsuit by an investor against a Latin American State based on an investment protection treaty was registered in 1996 against Venezuela. Since then, the number of legal claims has increased and peaked in 2003, mainly due to the crisis of 2001 in Argentina, when peso-dollar convertibility ended and public rates were frozen. Of the 25 lawsuits registered in 2003, a total of 20 correspond to Argentina.”
Since then, the number of litigations has been continuously increasing. While between 1996 and 2006, 91 were registered, in the last decade the total number jumped to more than 180. This implies an increase of 98 percent.
During 2018 and 2019, 22 cases were registered. In 2020 and 2021, the years of the pandemic, a high number of lawsuits were also recorded, but this period was also characterized by at least 50 threats from investors regarding the possibility of
perU and ecUador are the most demanded coUntries, which together accUmUlate 211 legal actions and at the time were sUed on 327 occasions. this represents almost two thirds of the total litigation against latin american coUntries. the world bank’s icsid received 77.6 percent of the total lawsUits against states.
source: Transnational Institute (TNI)
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