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El Salvador rejects tribunal verdict on Enel claim

Thursday, July 28, 2011

\ El Salvador’s state-owned electricity company, Cel, rejected the verdict of an international arbitration tribunal that favored Italy’s Enel in a $127 million dispute.\ \ “It’s inadmissible to hand over a country’s strategic resources, such as geothermal, to private hands,” said argued in its plea to quash the verdict of the International Chamber of Commerce in Paris.\ \ Enel’s legal representative maintained that the appeal sends the wrong message to investors.\ \ Original source (in Spanish):\ \ \ \