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Guatemala wins dispute with Spain's Iberdrola

Tuesday, August 21, 2012

Spanish electricity company Iberdrola lost a $185 million suit against the government of Guatemala for alleged expropriation.

The dispute was resolved by the World Bank's arbitration center for international investment disputes, Icsid. Guatemala was ordered to pay $5.3 million in legal costs.

The origin of the dispute emerged in 2008 when Guatemala abruptly reduced taxes on electricity tariffs.

Full story (in Spanish)