ICSID Finds Funds Owed, No Settlement In Mozambique Road Repair Dispute

(October 31, 2019, 12:44 PM EDT) -- WASHINGTON, D.C. — Italian companies seeking additional pay for a road project from the Republic of Mozambique successfully showed that the International Centre for Settlement of Investment Disputes (ICSID) had jurisdiction over arbitration proceedings but failed to show that they were owed an additional 8,220,888 euros for the completed work, that they reached a settlement agreement with Mozambique or that they were entitled to any damages, an ICSID tribunal ruled Oct. 29 (CMC Muratori Cementisti, et al. and Republic of Mozambique, No. ARB/17/23, ICSID)....

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