Source: ISDS Bilateral
3rd September 2019
TRT | 21 August 2019
Multi-billion dollar fine on Pakistan puts the spotlight on a secret court
by Saad Hasan
The Reko Diq mine case shows the overreach of a secretive arbitration system.
Last month, the International Centre for Settlement of Investment Disputes (ICSID), a global quasi-court, slapped more than a $5 billion fine on Pakistan in an arbitration case involving a gold and copper mine.
But the ICSID, which is part of the World Bank Group, didn’t initially announce its decision. There was nothing on its website. Except for perhaps the lawyers involved in the case, hardly anyone had seen the judgement*.