Introduction

I first became aware of the issue of "transparency" in investment arbitration in February 2002, not long after the conclusion of hearings in Loewen v. United States , when renowned American journalist Bill Moyers broadcast a television documentary called "Trading Democracy."[1] In the program, Moyers attacked the very idea of investment arbitration as an "end run around democracy," where "secret NAFTA Tribunals can force taxpayers to pay billions of dollars in lawsuits filed by corporations against the United States." The documentary focused in particular on the Loewen ...