{"id":3585,"date":"2016-02-29T09:22:56","date_gmt":"2016-02-29T15:22:56","guid":{"rendered":"http:\/\/itn.mattrock.ca\/?p=3585"},"modified":"2024-08-09T18:26:44","modified_gmt":"2024-08-09T16:26:44","slug":"ecuadors-audit-on-investment-treaties-caitisa-reports-leaked","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2016\/02\/29\/ecuadors-audit-on-investment-treaties-caitisa-reports-leaked\/","title":{"rendered":"Ecuador\u2019s audit on investment treaties: CAITISA reports leaked"},"content":{"rendered":"<p>Three reports by\u00a0<a href=\"http:\/\/www.caitisa.org\">CAITISA<\/a>, Ecuador\u2019s citizen audit commission on bilateral investment treaties (BITs), were leaked by online newspaper\u00a0<a href=\"https:\/\/www.diagonalperiodico.net\/global\/29135-diagonal-hace-publicos-resultados-la-auditoria-sobre-tbi-del-ecuador.html\">Diagonal<\/a>\u00a0on January 24, 2016. CAITISA, formed by experts in foreign investment and international law, was created in 2013 by President Rafael Correa to examine the legitimacy and legality of Ecuador\u2019s BITs and the impact of their application. The commission concluded its work in December 2015.<\/p>\n<p>In the report on\u00a0<a href=\"http:\/\/issuu.com\/periodicodiagonal\/docs\/recomendaciones_caitisa\/1?e=6636556\/33004953\">Final Recommendations<\/a>, CAITISA recommends that Ecuador denounce its BITs and negotiate new instruments, whether specific contracts with foreign investors or investment treaties. These new instruments should not include any of the old-style exception protection clauses except for clauses on direct expropriation. In addition, they should include state rights and investor obligations.<\/p>\n<p>In its observations on international investment arbitration, CAITISA recommends excluding the clause on investor\u2013state dispute settlement (<span class='tooltipsall tooltipsincontent classtoolTips43'>ISDS<\/span>) from existing and future BITs, and prioritizing adjudication by domestic courts. It also advances proposals for a transition period, which include: prohibiting compound interest in damages awards, providing for exhaustion of local remedies, enhancing transparency in proceedings, limiting arbitrator fees, issuing interpretive statements, creating an appellate mechanism, and establishing a permanent international or regional investment court, with permanent judges.<\/p>\n<p><em><a href=\"https:\/\/www.iisd.org\/itn\/2016\/02\/29\/news-in-brief-22\/\">Read more\u00a0News in Brief<\/a><\/em><!--more--><\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips32','International Institute for Sustainable Development<!--more-->'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips33','Institut international du d\u00e9veloppement durable'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips34','Instituto Internacional para el Desarrollo Sostenible'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips43','investor\u2013state dispute settlement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips58','soluci\u00f3n de controversias inversionista-Estado'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips60','Investment Treaty News'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips67','Energy Charter Treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips89','trait\u00e9 bilat\u00e9ral d\u2019investissement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips90','tratado bilateral de inversi\u00f3n'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips100','investissement direct \u00e9tranger'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips106','asociaci\u00f3n p\u00fablica-privada'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script>","protected":false},"excerpt":{"rendered":"<p>Three reports by CAITISA, Ecuador\u2019s citizen audit commission on bilateral investment treaties (BITs), were leaked by online newspaper Diagonal on January 24, 2016.<script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script><\/p>\n","protected":false},"author":1,"featured_media":15869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[397],"tags":[1932,2070,1933,1978],"class_list":["post-3585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bits","tag-caitisa","tag-ecuador","tag-investor-obligations"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/3585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/comments?post=3585"}],"version-history":[{"count":0,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/3585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media\/15869"}],"wp:attachment":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media?parent=3585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/categories?post=3585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/tags?post=3585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}