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Guatemala says blunder nixes $29 million award

Wednesday, April 19, 2017

The Guatemalan government asked a D.C. federal court to nix a U.S. energy company’s bid for default judgment in a $29 million arbitral award over electricity tariffs, saying the company never properly served the Central American nation with notice of the suit.

Teco Guatemala Holdings’ delivery of a summons and petition to confirm the $29 million arbitration form to Guatemala’s Ministry of Economics via DHL was not an acceptable means to deliver service under the Foreign Sovereign Immunities Act, the ruling said.

Source: Law 360