Corporate courts thrown out by Europe. Now Britain must follow the lead
A landmark ruling by the European Court of Justice (ECJ) 6 March could mark the beginning of the end of the so-called ‘corporate court’ system within Europe.
This infamous system is now to be found in hundreds of trade and investment deals. Under the guise of protecting investments in foreign countries, the investor-state dispute settlement (ISDS), as it’s officially known, allows big business and super-wealthy investors to sue foreign governments for regulations they don’t like. What’s more these courts exist outside the normal legal framework, are presided over by corporate lawyers and usually meet in secret, with no right of appeal.