As governments take action to fight the COVID-19 pandemic and prevent economic collapse, big law firms are watching the virus too. Yet, their concern is not to save lives or the economy. Instead, the lawyers are urging big business to challenge the social and economic emergency measures that governments around the world have taken to deal with the COVID-19 crisis. 2600 investment protection agreements worldwide have opened the door for transnational companies to sue States for billions of dollars In a parallel corporate justice system called Investor State Dispute Settlement (ISDS).
A new report, Cashing in on the Pandemic, takes a close look at how lawyers are preparing to sue states over COVID-19 measures.
Pia Eberhadt (researcher with Corporate Europe Observatory)