National Says ‘Yes’ to Investor Rights to Sue
Source: Scoop Independent News
New TPP Leaked Text: National Says Yes to Investor Rights to Sue
Press Release: Professor Jane Kelsey
Media release: Professor Jane Kelsey
Thursday 14 June 2012
Another chapter of the secret Trans-Pacific Partnership negotiations has been leaked, heralding another bad news day for National, says TPP critic Professor Jane Kelsey.
The draft text of the investment chapter, including the section on investor-enforcement, is undated, but is understood to be recent. A copy is here: http://tinyurl.com/tppinvestment
[Scoop copy tppinvestment.pdf]
It confirms that National has agreed to let foreign investors like Philip Morris, Pfizer, Warners, Exxon Mobil or Microsoft sue New Zealand for damages in private offshore tribunals, claiming that new laws or policies breach their rights under the agreement.
My preliminary analysis confirms the concerns raised by lawyers in a recent letter calling for the exclusion of investors rights to sue, and much more, Professor Kelsey said.
Philip Morris confirmed on the weekend it will use so-called free trade treaties to challenge our smoke free laws. At present, it would need to find a backdoor way to use an existing agreement. This TPP text would throw open the front door to them and all the other US firms that want to block new laws they dont like.
Almost half the investor-state disputes currently before the World Banks tribunal at present relate to oil, mining or gas projects.
Last week the government opened tenders for oil and gas exploration in 23 onshore and offshore sites, when we have weak regulation. You can guarantee those oil firms would threaten to sue if new regulations hit their share value or profitability. Whether they have a good legal case is beside the point. They can tie governments up for years in massively expensive legal battles. Just that threat can chill the regulatory decisions.
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http://www.scoop.co.nz/stories/PO1206/S00186/national-says-yes-to-investor-rights-to-sue.htm
Read more: http://www.scoop.co.nz/stories/PO1206/S00186/national-says-yes-to-investor-rights-to-sue.htm
aquart
(69,014 posts)OnyxCollie
(9,958 posts)Along with the banks and health insurance industry.
drm604
(16,230 posts)Does this just relate to New Zealand? This refer several times to something called "National". What is "National"?
Huey P. Long
(1,932 posts)Everything is up for grabs to the highest bidder, including our lives.
Corporations OWN this fucking world, and the puppets (politicians) will do as their told.
Prepare for hell on earth.
drm604
(16,230 posts)I'm trying to understand what this is about.
muriel_volestrangler
(101,311 posts)Yes, it would have been more helpful for the thread starter to answer your question. It's possible they don't know themselves, I suppose - they may have just posted any TPP-related news, without really knowing what it says.
pam4water
(2,916 posts)here
http://www.democracynow.org/2012/6/14/breaking_08_pledge_leaked_trade_doc
Link also has a transcript.
On youtube over here