A divided United Nations Commission on International Trade Law (UNCITRAL) tribunal has dismissed an Israeli energy company’s US$117 million claim against Guatemala, ruling that the state is not liable for pursuing a criminal investigation into the tax affairs of electricity distributors owned by the investor.
Lawyers speaking at Latin Lawyer-GAR Interactive: Arbitration Summit yesterday recommended companies plan infrastructure investments carefully and with the backing of investment treaties and thorough due diligence, amid arbitrary actions by populist politicians and a slew of new laws pursued by governments in Latin America to fight the covid-19 pandemic.
A senior associate of Arias (Guatemala) has left to become partner at Clarity Law, reuniting with the former managing partner of the regional firm in Guatemala City, José Augusto Toledo.
Cuatrecasas in Madrid and Lima, three Arias offices and Ferrere (Ecuador) have helped German on-demand food services business Delivery Hero buy Spanish counterpart Glovo’s entire Latin American operation for 230 million euros (US$273 million), adding several new markets to its existing regional portfolio.
A United Nations Commission on International Trade Law (UNCITRAL) tribunal has declined to hear an investment treaty case brought by Spain’s Iberdrola against Guatemala over electricity tariffs on the basis that the company had raised identical claims in an unsuccessful International Centre for the Settlement of Investment Disputes (ICSID) arbitration.
Consortium Legal (Guatemala) has bolstered its corporate practice by promoting a senior associate to partner.
Hogan Lovells LLP in New York and Mayora & Mayora SC in Guatemala City have helped Guatemala’s Banco Industrial raise US$200 million by issuing notes to support women-operated SMEs in Guatemala.
In response to the unprecedented impact of covid-19, Latin Lawyer and LACCA launched a free-to-view and regularly updated information hub. Read about legislation and official communications issued by governments across Latin America in response to the evolving crisis here.
As governments respond to the pandemic by enacting emergency legislation that will affect all areas of society and doing business, we are providing a central information hub that contains the enacted legislation and other relevant official communication issued in relation to the crisis.
A slew of firms has helped The Central America Bottling Corporation (CBC) make a US$200 million debt tap.