A (post)colonial approach: Colombia before the ISDS and the disputes over natural resources.

Foreign investors have filed more than ten investment disputes against the Colombian State since 2016, claiming damages in the amount of about US $5,000 million. Fearing the threat of multi-million dollar awards, the rise in investor claims has resulted in “regulatory chill,” causing Colombian authorities to refrain from acting in accordance with their constitutional obligations in addition to other international obligations. The paper aims (1) to problematize from a (post) colonial perspective the tension between the constitutional law and the investment law by examining the Colombian case and, specifically, the investor disputes launched in reaction to natural resource protections; and (2) to identify the colonial legacies at work that are embedded in the investment law and that continue to shape global North-South relations.