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The much awaited text of the TPP has been released. As anticipated, the Investment Chapter (Chapter 9) sets out protections for investors of each TPP State and the mechanism for investors to bring claims in the event a TPP State fails to comply with these protections. A summary of those protections and the investor-state dispute settlement (ISDS) mechanism is set out below. What is protected? The TPP Investment Chapter protects investments made by investors of…

Venezuela’s withdrawal from the ICSID Convention does not prevent foreign investors from relying on other mechanisms in order to protect their rights. On 24 January 2012, the Bolivarian Republic of Venezuela formally deposited with the International Centre for Settlement of Investment Disputes (ICSID) – an international institution depending from the World Bank ‑ its “irrevocable denunciation” of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention), asserting that “Venezuela…