Constitutional Court, Ecuador, ICSID Arbitration, International arbitration, International Investment Arbitration, Investment Arbitration, Investor-State arbitration, ISDS, Latin America, Trade and investment agreements

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The Ecuadorian government held a referendum and a public consultation on 21 April 2024. Question D of the referendum asked citizens: “Do you agree that the Ecuadorian State recognizes international arbitration as a method to resolve disputes related to investment, contractual, or commercial matters?” (free translation). The substantive proposal of the question was merely based…

Ecuador, Latin America

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The Constitutional Court of Ecuador (“Court”) has recently analyzed the constitutionality of two International Agreements. On 28 July 2023, the Court declared unconstitutional the provision contained in chapter 15.20 of the Trade Association Agreement between Ecuador and Costa Rica (Decision No. 2-23-TI/23), among other reasons, because it incorporated an state-private party (investor) dispute resolution clause…

Constitutional Court, Ecuador, ICSID Arbitration, Latin America, Trade and investment agreements, Uncategorized

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Ecuador distanced itself from the International Centre for Settlement of Investment Disputes (“ICSID”) system more than a decade ago. During this period, Ecuador withdrew from all its bilateral investment treaties (“BITs”) and the 1966 Convention on the Settlement of Investment Disputes between States and Nationals of Other States (“ICSID Convention” or “Convention”). In August 2021,…