Author Haley Sweetland Edwards on “Shadow Courts”
Where: Museum of American Finance
48 Wall St.
212-908-4110 Price: $5
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Arbitration tribunals are buried in thousands of trade treaties, linking more than 179 countries. Called Investor-State Dispute Settlements, or ISDS, these tribunals allow private corporations to sue sovereign nations if they believe terms of a treaty were violated. In 2010, tobacco giant Philip Morris International used arbitration tribunals to sue Sierra Leone and Uruguay for putting health-warning labels on cigarette packages, and it has gone on to file suits against Australia and the European Union. Time correspondent Haley Sweetland Edwards goes behind the scenes to tell the story of the most outrageous recent arbitration cases, and takes a hard look at the power these shadow courts hold over the world.
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