ICSID Will Hear NAFTA Claims Related To Mortgages, Real Estate Projects In Mexico

(August 1, 2018, 1:15 PM EDT) -- WASHINGTON, D.C. — A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on July 31 released its decision on jurisdiction in an arbitration brought by Canadian investors against the United Mexican States, holding that it has jurisdiction to hear claims related only to mortgages that were obtained for an investment in real estate projects, but held that it lacked jurisdiction under the North American Free Trade Agreement (NAFTA) to hear the investors’ claims related to underlying promissory notes (Lion Mexico Consolidated L.P. v. United Mexican States, No. ARB[AF]/15/2, ICSID)....