Yeah that's a bit of an exaggeration.
"Investor-state dispute settlement (ISDS) is an instrument of public international law, that grants an investor the right to use dispute settlement proceedings against a foreign government. Provisions for ISDS are contained in a number of bilateral investment treaties, in certain international trade treaties, such as the North American Free Trade Agreement (Chapter 11) and in international investment agreements, such as the Energy Charter Treaty. If an investor from one country (the "Home State") invests in another country (the "Host State"), both of which have agreed to ISDS, and the Host State violates the rights granted to the investor under public international law, then that investor may bring the matter before an arbitral tribunal."
WikipediaTTIP, according to TTIPInfo, an activist organisation in Finland, would (freely translated)
"allow companies investing in Europe to sideline European courts in favour of supernational tribunals whenever they feel legislation protecting public health, the environment, or social rights is cutting into their profits."
(Independent) - In one
case alone the US oil company Occidental Petroleum successfully sued the government of Ecuador for $1.8bn. A separate case claiming $6bn has also be filed. The tribunals are used to rule on disputes between nation states and aggrieved companies.
This is how they'll sideline national laws and democratic sovereignty (where that elusive creature may be found).