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Arbitration begins on Panama Canal dispute

Monday, July 21, 2014

Arbitration of the first claim in a $1.6 billion dispute over cost overruns in the expansion of the Panama Canal is scheduled to begin Monday, July 21 in Miami.

The process will begin with a teleconference to determine procedures, both sides’ positions and a timeline.

The money dispute pits the Panama Canal Authority, which oversees operations of the 50-mile-long canal, against Grupos Unidos por el Canal, a consortium of international construction companies that is the main contractor on the $5.25 billion expansion.

Source: Miami Herald