Ecuador: Auditor States Country Fifth Most Sued Government in the World

telesurtv.net / Cecilia Olivet, president of the audit commission, said that there have been 26 requests from foreign investors against Ecuador before international courts. In 2014, Ecuador was considered the fifth most sued country in the world based on these treaties. Correa’s government has dealt with most of the lawsuits, as 71 percent of the cases were filled between 2006 and 2015, and the sector with the greatest number of such cases is oil exploitation, with 50 percent of the cases.

The report also stated that at least six arbitrators presented a conflict of interest during the cases against Ecuador.

The commission recommended that new treaties be signed on the basis of an alternative model that ensures the state’s ability to regulate social and environmental matters, without the possibility of being sued.

The total number of investor claims against Ecuador amounts to US$21.2 billion, of which nearly US$1.5 billion have already been paid. The lawsuits still open are US$13.4 billion, or 52 percent of the states’ budget for 2017. Read Article

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