In the News Detail

2008   |   2007  

L. Yves Fortier talks to The Globe and Mail about the trend set by international tribunals to stand up against foreign investment seizures by governments against domestic companies that open offices abroad. Mr. Fortier is considered one of the top arbitrators in the world today and is an expert on international arbitration.

Excerpt

Such decisions are putting increased pressure on countries to negotiate settlements with aggrieved investors, even pint-sized junior mining companies such as Infinito. Before the advent of bilateral treaties, stranded Canadian companies' only recourse was on long-shot federal diplomacy.

Yves Fortier, a partner with Ogilvy Renault LLP and a respected author of many international arbitration decisions, said "scoundrel" governments are finding it much harder to ignore arbitration hearings and awards.

"Sooner or later, countries need to borrow money from international investors so they will only be able to refuse to honour arbitration decisions for so long."

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