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ARTICLES

LEGAL RESOURSES

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$ 17.22

    • Article 1117: Claim by an Investor of a Party on Behalf of an Enterprise

    1. An investor of a Party, on behalf of an enterprise of another Party that is a juridical person that the investor owns or controls directly or indirectly, may submit to arbitration under this Section a claim that the other Party has breached an obligation under:

  • Section A or Article 1503(2) (TLCAN: Art. 1503) (State Enterprises), or

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  • Article 1502(3)(a) (TLCAN: Art. 1502) (Monopolies and State Enterprises) where the monopoly has acted in a manner inconsistent with the Party's obligations under Section A, and that the enterprise has incurred loss or damage by reason of, or arising out of, that breach.

    • 2. An investor may not make a claim on behalf of an enterprise described in paragraph 1 if more than three years have elapsed from the date on which the enterprise first acquired, or should have first acquired, knowledge of the alleged breach and knowledge that the enterprise has incurred loss or damage.

    3. Where an investor makes a claim under this Article and the investor or a non-controlling investor in the enterprise makes a claim under Article 1116 (TLCAN: Art. 1116) arising out of the same events that gave rise to the claim under this Article, and two or more of the claims are submitted to arbitration under Article 1120 (TLCAN: Art. 1120), the claims should be heard together by a Tribunal established under Article 1126 (TLCAN: Art. 1126), unless the Tribunal finds that the interests of a disputing party would be prejudiced thereby.

    4. An investment may not make a claim under this Section.