On February 28, 2020, the Canadian Supreme Court issued a landmark ruling in the Araya v. Nevsun Resources Ltd case, dismissing Nevsun’s motion to strike, considering that “it is not plain and obvious that corporations today enjoy a blanket exclusion under customary international law from direct liability for violations of obligatory, definable, and universal norms of international law”.
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Landmark settlement: ANZ bank compensating displaced Cambodian farmers by a client’s project it financed
The settlement reached in February 2020 by Equitable Cambodia and Inclusive Development International on behalf of Cambodian victims and ANZ bank, under the auspices of the Australian National Contact Point (AusNCP) is the first of its kind for the global banking industry.
In a joint statement published on 27 February 2020, “ANZ recognises the continuing hardships faced by the affected communities, and has agreed to pay the profit it earned from the loan, to the affected communities”.
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