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Icsid Review-Foreign Investment Law Journal : Cases

By Escobar, Alejandro A.

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Book Id: WPLBN0000223541
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005

Title: Icsid Review-Foreign Investment Law Journal : Cases  
Author: Escobar, Alejandro A.
Volume:
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Historic
Publication Date:
Publisher: The World Bank

Citation

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Escobar, A. A. (n.d.). Icsid Review-Foreign Investment Law Journal : Cases. Retrieved from http://www.worldlibrary.in/


Description
Economics

Excerpt
The award rendered on August 30, 2000 in the proceeding instituted by Metalclad Corporation, a Delaware company, against the United Mexican States, was the first to uphold, on the merits, a claim submitted to arbitration under Chapter Eleven of the North American Free Trade Agreement (NAFTA). Metalclad filed its notice of arbitration on January 2, 1997, and requested access to ICSID?s Additional Facility. The notice was registered, and access to the Additional Facility granted, on January 13, 1997. The Arbitral Tribunal, the first established for a NAFTA Chapter Eleven proceeding, was constituted on May 19, 1997. NAFTA Article 1123 provides for a three-member tribunal. NAFTA Article 1125 allows the appointment in ICSID cases of arbitrators who have the nationality of the parties. Metalclad appointed Mr. Benjamin R. Civiletti, a former United States attorney-general, and Mexico appointed Mr. Jose Luis Siqueiros, a former chairman of the Inter-American Juridical Committee and Professor of Law at the National University of Mexico. By agreement between them, the parties appointed as President of the Tribunal Sir Elihu Lauterpacht, Emeritus Professor of International Law at the University of Cambridge and former President of the World Bank Administrative Tribunal. The dispute arose from the construction, by an enterprise owned and controlled by Metalclad, of a landfill in Guadalcazar in the central Mexican state of San Luis Potosí, designed for the confinement of hazardous waste from the area. Approvals having been obtained at the federal and state level, construction of the landfill was completed in March 1995. Demonstrations took place at the inauguration of the landfill which kept it from opening. In November 1995, Metalclad concluded an agreement with federal environmental agencies setting forth the conditions under which the landfill would operate. In December 1995, however, the local municipality issued a denial of a construction permit for the landfill which had been requested thirteen months earlier. The municipality then challenged the agreement Metalclad had concluded with federal agencies and obtained a judicial injunction which prevented the operation of the landfill through May 1999.

 

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