Extracts follow, read the full article at external link TPP’s clauses that let Australia be sued are weapons of legal destruction, says lawyer
George Kahale III is chairman of the world’s leading legal arbitration firm – Curtis, Mallet-Prevost, Colt & Mosle LLP.
“If the trade minister is saying, ‘We’re not at risk for regulating environmental matters’, then the trade minister is wrong.” 9.15 provides protections for ….environmental, health or other regulatory objectives….but the protection is negated by five words in the middle
re Most Favoured Nation clause – Essentially, … is tantamount to a classic wipeout move. It would enable foreign corporations from TPP states to make a claim against Australia based on the ISDS provisions in any other trade deal Australia has signed, no matter which country it was signed with…..foreign investors can cherrypick another treaty Australia has signed
ISDS claims are not heard in a standing court staffed by independent judges. Instead, claims can proceed in ad hoc courtrooms – a hotel room, for example – by three arbitrators hand-picked by the parties. Unlike a traditional court of law, these arbitrators are not obliged to refer to precedent and, since their decisions are not open to appeal, they are free to rule according to their personal opinion.