Costa Rica Fires Back At U.S. Condo Investment Group

(May 11, 2016, 12:06 PM EDT) -- WASHINGTON, D.C. — In an April 8 counter memorial filed with the International Centre for Settlement of Investment Disputes (ICSID), the Republic of Costa Rica alleges that a group of investors, in “complete disregard” of the area’s ecosystem and of Costa Rica’s environmental regulations, chose to begin work on a development in ecologically fragile areas of their property with protected wetlands (David R. Aven, et al. v. The Republic of Costa Rica, No. UNCT/15/3, ICSID).

(Counter memorial available. Document #05-160524-029B.)

U.S. investors seek more than $96...
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