The Corporate Court Behind TTIP: A Real-Life Monopoly Game

The author contends that the TTIP and CETA trade agreements allow corporations to bypass national courts and sue EU governments in the London Court of International Arbitration (LCIA) via the ISDS clause. The text highlights 2014 updates to LCIA rules that allegedly make it easier for corporations to sue taxpayers, limit the ability of governments to challenge arbitrator impartiality, and allow for corporate class action suits. The author warns that these mechanisms could be used to block environmental protections, such as bans on fracking, or prevent the reversal of public service privatisations, effectively placing corporate interests above democratic law.

• The Investor-State Dispute Settlement (ISDS) clause in trade agreements like TTIP and CETA grants the London Court of International Arbitration (LCIA)—a private company limited by guarantee—the power to settle disputes between private corporations and governments, bypassing traditional courts of law.
• Updated LCIA arbitration rules effective October 1, 2014, are described as making it faster and cheaper for corporations to sue EU governments, while reducing the time available for taxpayers and governments to prepare their legal defences.
• The 2014 LCIA rules contain a loophole regarding the impartiality of arbitrators; if a lack of impartiality is discovered after a ruling has been made, the ruling stands with no right to appeal.
• The LCIA has introduced the power to facilitate corporate class action suits, allowing multiple corporations to join together in a single arbitration against an EU government, which the author suggests could lead to multi-billion pound fines for taxpayers.
• The author asserts that the TTIP ISDS loophole could allow corporations holding fracking licenses in the UK to sue future governments that attempt to ban the practice, ensuring profits even if fracking is not commercially viable.
• The LCIA's ability to impose strict confidentiality obligations prevents the public and journalists from knowing the details of proceedings that may result in massive damages against EU taxpayers.
• The document cites international examples of ISDS-style litigation, including Philip Morris suing Uruguay and Australia over tobacco regulations, and Vattenfall suing Germany over the shutdown of nuclear power.

APA

Kelly, M. (2014). The Corporate Court Behind TTIP: A Real-Life Monopoly Game. Green European Journal. https://www.greeneuropeanjournal.eu/the-corporate-court-behind-ttip-a-real-life-monopoly-game/

Chicago

Kelly, Mel. The Corporate Court Behind TTIP: A Real-Life Monopoly Game. Green European Journal, 2014. https://www.greeneuropeanjournal.eu/the-corporate-court-behind-ttip-a-real-life-monopoly-game/.

Wikipedia

{{cite press release |last1=Kelly |first1=Mel |title=The Corporate Court Behind TTIP: A Real-Life Monopoly Game |publisher=Green European Journal |date=18 November 2014 |url=https://www.greeneuropeanjournal.eu/the-corporate-court-behind-ttip-a-real-life-monopoly-game/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{kelly2014corporate, author = {Kelly, Mel}, title = {{The Corporate Court Behind TTIP: A Real-Life Monopoly Game}}, publisher = {Green European Journal}, year = {2014}, month = nov, url = {https://www.greeneuropeanjournal.eu/the-corporate-court-behind-ttip-a-real-life-monopoly-game/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }