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SANTO DOMINGO.- An arbitration tribunal constituted under the France-Dominican Republic Bilateral Investment Treaty released an award last week ruling on the jurisdictional objections raised by the Dominican Republic in a claim brought by TCW and its parent company.
“The claim involves an investment in EDE ESTE, an electric distribution company in the Dominican Republic that serves approximately 600,000 customers and has 1,200 employees. The tribunal rejected the objections raised by the Dominican Government and allowed US$680 million in claims against the Republic to proceed to a final hearing and an award on the merits of the dispute,” Business Wire said.
“We are extremely pleased that the tribunal convincingly rejected the Government's position. This arbitration proceeding goes to the heart of the problems affecting the Dominican electric sector and the unstable legal and regulatory framework. By holding the Government accountable we hope to finally advance the prospect of having a reliable and efficient electric sector for our customers,” said R. Blair Thomas, president of EDE ESTE and group managing Director of TCW, quoted by the Web site.
“On March 15, 2007, TCW and its parent company initiated an arbitration under the bilateral treaty to resolve its allegations that the Republic's treatment of the investment in EDE ESTE has greatly diminished the value of EDE ESTE. The Republic raised objections to the jurisdiction of the tribunal to hear the claims under the Treaty. The Tribunal's decision rejected these objections and now the arbitration will proceed to a final hearing in 2009,” said Business Wire.
It adds that TCW and parent company Société Générale have consented to the Dominican Republic to make the full award public, but the Dominican Republic has yet to respond. “Under the applicable arbitration rules, the award may be made public only with the consent of both parties.”
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This determination is a big lost for DR no matter what the final decision of the arbitration panel in 2009, because win or lose in 2009 the arbritration panel claims "jurisdiction" or power over DR affairs.
Any law or administrative decision reached by the Dominican state in the exercise of its so-called "sovereign powers" can be challenged and appealed to an international arbitration panel dominated by imperialists and imperial sluts.
Reactionary rats and imperialist running dogs rejoice exceedingly over the powers granted, under "free" trade treaties to imperialists, stripping poor countries of their sovereignty. Now, the DR sees how "free" this trade is.
The Dominican state gave or "privatized" part of EDE ESTE to the imperialists in the 1990s.
"Thank you, very much," the imperialists replied. "Now, fool, giving this gift will cost you over a half a billion."
Imperialists suck.
The DR may have been beat out of as much as $2.5 billion in a massive securities fraud committed by the US imperialists and the DR won't get a nickel from the $700B bailout.
Now, these imperialist thieves are trying to snatch another $680 million in an arbitration fraud.
You can't beat an honest tribunal. If you try to you lose. It's that simple. In case you can't understand what you are reading, allow me to put it into small words for you. The DR had no defense. It's only claim was that the court had no jurisdiction.
He is the "Flavor Flav" of Dominican today.
This tribunal's ruling will not get you a chicharron and platano when is all over. It's just smoke trying to put pressure in the DR to negotiate.
0000
A racketeering element of the financial sector of the the US bourgeoisie loots the imperialist and capitalist world of trillions of dollars and then the victimized French sector of the imperialist bourgeoisie tries to loot the Dominicans of a mere $680 million.
Naturally, juanb rushes forth to ask "Do you doubt that the dirty Dominicans should be looted by the pristine filth of the French and US bourgeoisie?"
So, the Dominican company or individual who complains against imperialists must file his case in a French or US court of competent jurisdiction.
But when an imperialist company or individual complains against a Dominican, these two-faced, malignantly hypocritical, and lying international arbitration panels always possess "jurisdiction," denying the Dominican judiciary the right and the power to render a final judgment in the case.
Your synopsis is full of false and misleading statements regarding the effects on sovereignty that will eventually lead to a more transparent operation within the government.
For too long have the government operators, through such entities as EdEste, made use of public monies for their own benefit. We're now seeing the results of "Rule by Law" that has been ignored for so many generations by public officials.
You continue to grasp at straws in your misguided support of Socialism and its undermining of personal incentives to no avail.
While Capitalism isn't the best, by any means, it offers a helluva lot more than Socialism does with that philosophy's denigration of individual sovereignty.
TexasBill