News  |  October 7, 2021

Ecuador rejoins the ICSID Convention

Twelve years after it denounced the agreement, Ecuador has again ratified the ICSID Convention. The agreement came back into force on September 3, following the deposit of the instrument of ratification with the World Bank on August 21.

Explaining Ecuador’s shifting position on FDI, investment treaties, and arbitration

This article provides an overview of Ecuador’s approach to foreign investment policy over the past decade, which has been subject to significant changes. It also reviews recent constitutional
developments that may allow Ecuador to develop a more coherent approach toward
new investment treaties and trade agreements.

Awards  |  December 17, 2019

Substantial damages awarded to Perenco for FET breach and expropriation; Ecuador also awarded compensation under environmental counterclaim

Perenco Ecuador Limited v. Republic of Ecuador, ICSID Case No. ARB/08/6

Can Foreign Investors Be Held Liable for Human Rights Violations? International Human Rights Law and Beyond

Host states have had the challenge to protect their citizens from human rights violations caused by multinationals. This paper explains the bases of states’ obligations under international human rights law and how foreign investors may be held responsible.

Awards  |  September 26, 2017

ICSID tribunal awards roughly USD380 million in compensation for illegal expropriation by Ecuador

Burlington Resources Inc. v. Republic of Ecuador, ICSID Case No. ARB/08/5

Awards  |  September 26, 2017

Ecuador awarded USD41 million in counterclaim against U.S. oil and gas company Burlington Resources

Burlington Resources Inc. v. Republic of Ecuador, ICSID Case No. ARB/08/5

News  |  June 12, 2017

Ecuador denounces its remaining 16 BITs and publishes CAITISA audit report

Ecuadorian President Rafael Correa formalized Ecuador’s withdrawal on May 16, 2017 from BITs concluded with 16 countries.

Awards  |  December 12, 2016

Ecuador’s levy on extraordinary oil profits at a 99% rate has breached Murphy’s legitimate expectations, decides PCA tribunal

Murphy Exploration & Production Company – International v. Republic of Ecuador, PCA Case No. 2012-16 (formerly AA 434) – Inaê Siqueira de Oliveira

Awards  |  December 12, 2016

Ecuador ordered by PCA tribunal to pay $24 million to Canadian mining company

Copper Mesa Mining Corporation v. Republic of Ecuador, PCA No. 2012-2 – Matthew Levine

State Strategies for the Defence of Domestic Interests in Investor–State Arbitration

Argentina and Ecuador are now well experienced in ISDS and have had some success in defending domestic interests from investor claims. Lessons from these prior experiences could benefit other countries, particularly in the developing world, as they devise their legal defence strategies.

News  |  February 29, 2016

Ecuador’s audit on investment treaties: CAITISA reports leaked

Three reports by CAITISA, Ecuador’s citizen audit commission on bilateral investment treaties (BITs), were leaked by online newspaper Diagonal on January 24, 2016.

Awards  |  November 26, 2015

ICSID tribunal renders interim decision on Ecuador’s environmental counterclaim in long-running dispute

Perenco Ecuador Limited v. Republic of Ecuador, ICSID Case No. ARB/08/6