ICSID Rejects Panama's Objections To Arbitration Over Luxury Development
(May 12, 2016, 8:55 AM EDT) -- WASHINGTON, D.C. — A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on April 4 rejected preliminary objections asserted by the Republic of Panama to an arbitration commenced by various investors in a luxury eco-tourism project Álvarez y Marín Corporación S.A. and others v. Republic of Panama, No. ARB/15/14, ICSID).
(Judgment in Spanish available. Document #05-160524-030X.)
On April 20, 2015, ICSID registered a request for arbitration filed by Álvarez y Marín Corporación S.A. and others against Panama. The tribunal was constituted under...