ICSID Ad Hoc Committee Annuls Damages Section Of $28.6 Million Award
(April 8, 2016, 1:11 PM EDT) -- WASHINGTON, D.C. — An ad hoc committee of the International Centre for Settlement of Investment Disputes (ICSID) on April 5 granted the request of a Delaware company to annul the damages and costs sections of a $28.6 million award in its favor against the Republic of Guatemala because an ICSID tribunal denied its request for compensation for future losses (TECO Guatemala Holdings LLC v. Republic of Guatemala, No. ARB/10/23, ICSID).
(Decision available. Document #05-160426-010A.)
The committee said it “struggled” to understand the tribunal’s reasoning for denying...