ICSID Orders Canada To Pay Investors $13.3 Million For NAFTA Violations

(October 19, 2015, 4:57 PM EDT) -- LONDON — A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on Oct. 8 released its award on damages in an investment dispute, ordering Canada to pay $13,388,861 in damages to two corporations for violations of the North American Free Trade Agreement (NAFTA) (Mobil Investments Canada Inc., et al. v. Canada, No. ARB[AF]/07/4, ICSID).

(Award available. Document #05-151027-019A.)

On Dec. 19, 2007, ICSID registered a request for arbitration filed by Mobil Investments Canada Inc. and Murphy Oil Corp. against Canada pursuant to the...
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