New report shows lawyers win in free trade battles - Greens

27 November 2012
In the media

A new report on how the legal industry is exploiting investment state disputes clauses in trade agreements shows why New Zealand must refuse to sign any trade agreement that includes these provisions.

A new report on how the legal industry is exploiting investment state disputes clauses in trade agreements shows why New Zealand must refuse to sign any trade agreement that includes these provisions, Green Party Co-Leader Metiria Turei said today.

"Profiting From Injustice’s report shows that big international law firms are exploiting these investment state disputes clauses on behalf of corporations.- ‘Profiting from Injustice’ is published by corporate watchdogs the Transnational Institute and Corporate Europe Observatory.

Profiting from Injustices key findings:

  • The number of investment arbitration cases, as well as the sums of money involved, has surged in the last two decades.
  • The boom in arbitration has created bonanza profits for investment lawyers paid for by taxpayers.
  • Arbitrators tend to defend private investor rights above public interest, revealing an inherent bias.

Read the full article here.

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Profiting from Injustice