Swedish Company Uses Corporate Sovereignty Clause To Demand 4.7 Billion Euros From German Public
Found on Techdirt on Thursday, 16 October 2014
The rumored figure we mentioned then was the already-generous €3.7 billion; but it has just been revealed that Vattenfall is actually demanding even more -- €4.7 billion, to be precise.
Two other energy companies, RWE and E.on, are unable to sue in the same way as Vattenfall, because they are German companies, and the ISDS option is only available to foreign investors.
RWE and E.on are also trying to sue in Germany's national courts in order to obtain compensation, as Vattenfall is doing with the ISDS tribunals
Remember how the politicians tried to ignore complains about ISDS clause in TTIP/CETA, calling it a "pro forma" clause with no real value. Right now, they have the right to sue, so let's see the results. If they win the case, they can have those 4.7 billion, along with a really long train full of atomic waste so they can look for a permanent storage site. In the end, that might actually be the cheapest solution.