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Honduras not liable for $205 million owed by state firm

Tuesday, June 16, 2015

Honduras cannot be held liable for $205 million owed by a government-owned company, the U.S. Court of Appeals for the Second Circuit decided.

"This ruling signals that the United States courts will recognize and respect when a foreign government incorporates a separate juridical entity through which they will conduct business," said California attorney Juan Basombrio, a partner at Dorsey & Whitney who represented Honduras.

Source: Daily Business