The Zombie ISDS
The investor-state dispute settlement system (ISDS) allows foreign companies to sue governments in their own privileged judicial system for any changes in public policy that affect their profits. The people of Europe overwhelmingly rejected ISDS when consulted by the European Commission.
The EC responded with a revised proposal promising to replace the ‘old’ ISDS system, with a ‘new’ and independent system: the Investment Court System or ICS.
Our new report slams the EC's proposal on corporate investment courts as nothing more than a cynical rebranding exercise. In a nutshell, the 'new' ICS is ISDS back from the dead: the zombie ISDS.