The number of billion-dollar global disputes remains at an astonishingly high level, according to our biennial Arbitration Scorecard, rising to 128 during 2013-2014 from 121 during 2011-2012. Multinational corporations continue to use arbitration as their dispute resolution method of choice when cross-border deals go sour. Whether its case is grounded in a business contract or in a treaty that promises to protect foreign investment, an international claimant will commonly reject national courts in favor of a privatized system that outsources justice to one-off tribunals hand-picked by the parties.
Our reporting captured 69 contract disputes and 59 treaty disputes active during the last two years with an amount in controversy of at least $1 billion—including 10 cases with stakes of at least $15 billion. New bones of contention include expansion of the Panama Canal cofferdam, the cessation of Britain’s e-Borders program and the Seneca Nation’s exclusive right to slot machines in western New York. But more common stakes are the crown treasures of the natural resource economy, like the vast vein of iron coveted by Israel’s Beny Steinmetz (BSG Resources v. Guinea), or the offshore oil strike that may determine Brazil’s future (BM-S-11 Consortium v. Brazilian National Petroleum Agency).
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