July 17, 2015
As international trade law expands in scope and complexity, multinational businesses are increasingly calling on legal expertise in international trade to inform business strategy, and as Lexpert reports, Canadian law firms expect this rise in demand to continue. Torys partner John Terry, whose practice includes international trade and investment law, weighed in on the effects of this development. Below is an excerpt of the article.
Over the years, Chapter 11 challenges have become more common. Statistics compiled from the Canadian Centre for Policy Alternatives show 77 cases brought under the treaty. Of the three parties to the treaty, Canada is the most-oft sued with 35 challenges, significantly more than the 22 brought against Mexico and the 20 brought against the US. Over time, Canada has paid more than $170 million in damages compared to the US$204 million paid by Mexico. The US has never lost a case.
“It’s not surprising that Canada has been sued under NAFTA more than any other country,” says John Terry of Torys LLP in Toronto. “We’re a resource-rich country that attracts a lot of foreign investment.”
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