this post was submitted on 28 Nov 2023
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Socialism

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Billionaires Are Suing the Honduran Government for Blocking Their Profit-Making Scheme (jacobin.com)
submitted 2 years ago by [email protected] to c/[email protected]
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[–] [email protected] 10 points 2 years ago

international law known as Investor-State Dispute Settlement (ISDS), through which private corporations are able to sue governments that implement legislation that constrains their profits.

Why does this even exist ☹️

If, say, a government attempted to force an international fossil fuel company to clean up after an oil spill, or introduced measures to disincentivize smoking, those governments could be sued

 

Próspera launched an $11 billion ISDS case against the government of Honduras, claiming that its repeal of the ZEDE laws violated the terms of existing international treaties. That amount, $11 billion, represents about two-thirds of the government’s annual budget.

Wow. To be honest, after reading the rest of the article I can see why guillotines are so appealing.

Truly a sad state of things when a billionaire has the freedom to legally bully goverments smaller than them. This will just end up hurting the country IMO, as the govt's legal money needs to be pulled from somewhere