The Secret Justice System That Lets Executives Escape Their Crimes
In this must-read addition to your #longreads BuzzFeed news takes a deep dive into the international ‘court’ that the Trans-Pacific Partnership would subject US law to. One used by executives to escape the rule of law and by corporations to essentially pass vetos on sovereign nations’ laws. And of course to make a profit… lots and lots of profit.
Set aside 30 minutes and read up the first part of the series, where BF examines the use of this corporate court to allow rich criminals to escape justice.
“Imagine a private, global super court that empowers corporations to bend countries to their will. […] This system is already in place, operating behind closed doors in office buildings and conference rooms in cities around the world. Known as investor-state dispute settlement […]
“Because the system is so secretive, it is not possible to know the total number of ISDS cases, but lawyers in the field say it is skyrocketing. Indeed, of the almost 700 publicly known cases across the last half century, more than a tenth were filed just last year. […]
“ISDS arbitrators must follow the rules laid down in trade pacts. But in practice, they have interpreted the vague language of many treaties as enshrining broad, unwritten rights far beyond protections against property seizures and blatant discrimination — even finding, in one case, a right to a “reasonable rate of return.” […]
“The system’s usefulness as a shield for the criminal and the corrupt has remained virtually unknown.
“Reviewing publicly available information for about 300 claims filed during the past five years, BuzzFeed News found more than 35 cases in which the company or executive seeking protection in ISDS was accused of criminal activity, including money laundering, embezzlement, stock manipulation, bribery, war profiteering, and fraud.”
A parallel legal universe, open only to corporations and largely invisible to everyone else, helps executives convicted of crimes escape punishment. Part one of a BuzzFeed News investigation.
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