Tribunal Rejects Investors’ $198M Claim Against Nicaragua For Oil Block Dispute

Mealey's (March 14, 2023, 10:14 AM EDT) -- WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) arbitral tribunal rejected all claims brought by a group of U.S. investors against the Republic of Nicaragua for the alleged expropriation of their investment in an oil exploration venture that failed to find significant deposits of oil and ordered the claimants to pay Nicaragua $1.5 million to partially reimburse its attorney fees and costs....