ICSID Releases Award, Finds It Lacks Jurisdiction Over CAFTA Claims

(October 28, 2016, 11:42 AM EDT) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Oct. 26 released an interim award on jurisdiction in an arbitration commenced by investors, who allege that the Republic of Costa Rica expropriated their investment in luxury beachfront property, finding that it lacks jurisdiction to hear claims related to many of the allegedly affected lots of land (Spence International Investments et al. v. Republic of Costa Rica, No. UNCT/13/2, ICSID)....

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