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TransCanada Puts $15 Billion NAFTA Suit on Hold as Keystone XL Goes Forward

(Canadian Press)

TransCanada Corp. has suspended a $15-billion lawsuit against the United States regarding its Keystone XL project following signals by U.S. President Donald Trump that he will likely approve the pipeline.

The company filed the North American Free Trade Agreement challenge last year alleging the U.S. government failed in its commitment to protect Canadian investors and ensure the company was treated in accordance with international law.

The process before the International Centre for Settlement of Investment Disputes has been suspended until March 27. Click here to read more.