Investors Wield Power Over Poor Countries: Study

Law360, New York (May 2, 2007, 12:00 AM EDT) -- A little-known World Bank arbitration court where multi-national investors bring claims against governments overwhelmingly sides with businesses, particularly in disputes over oil, gas and mining, and often delivers crippling fines to developing countries, a study has shown.

The World Bank’s investor arbitration court has increasingly given Global 500 companies unprecedented control over middle- and low-income countries when disagreements regarding bilateral treaties appear, according to the report by Food & Water Watch, an advocacy group, and the Institute for Policy Studies, a research organization.

The study found...
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