law firms

Brexit could become a cash cow for law firms that make millions when corporations sue nation states via trade and investment agreements. They're paving the way for Brexit-related corporate claims against the UK & touting the UK as a gateway for future investor claims against EU member states.

Law firms and their stake in TTIP

In response to the criticism of the controversial investor rights in TTIP, a number of law firms recently founded a think tank designed to protect the current investment arbitration system: The European Federation for Investment Law and Arbitration (EFILA).

A small club of international law firms, arbitrators and financial speculators are fuelling lawsuits by foreign investors against states that cost taxpayers billions of dollars and prevent legislation in the public interest. Emblematic cases include tobacco giant Philip Morris suing Uruguay and Australia over health warnings on cigarette packets, and Swedish energy multinational Vattenfall seeking $3.7bn from Germany following that country’s decision to phase-out nuclear energy.

The EU Commission’s plan to enshrine sweeping rights for foreign investors in the EU-US trade deal continues to draw heavy criticism. In response, industry lobby groups, law firms, and arbitrators have launched a tooth and nail defence of the business power grab. See through their propaganda with Corporate Europe Observatory’s guide to investment arbitration.

Since the economic crisis hit Europe, international investors have begun suing EU countries struggling under austerity and recession for a loss of expected profits, using international trade and investment agreements. This is revealed by a new report released today by the Transnational Institute and Corporate Europe Observatory.

Law firms are campaigning for exemptions to the EU lobby register and it looks very much as if Commissioner Šefčovič and Rainer Wieland MEP are keen to help them out.

The EU negotiating mandate for a far-reaching free trade agreement with the US reveals the European Commission’s plans to enshrine more powers for corporations in the deal. The proposal follows a persistent campaign by industry lobby groups and law firms to empower large companies to challenge regulations both at home and abroad if they affect their profits.

Some investment lawyers have rejected the allegations of "Profiting from Injustice", a report which looks at the role of law firms, arbitrators and third-party funders in the recent boom in lawsuits of foreign investors against states. This blog responds to their defence of the international investment regime, argueing that it is neither fair nor independent, but biased towards the interests of investors.