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How a Pittsburgh rail firm fought Guatemala and won

Monday, July 16, 2012

When the government of Guatemala issued a presidential decree declaring that a railway run by Railroad Development was harmful to the country's interests, the Pittsburgh-based rail company soon found it could no longer effectively run operations.

It then brought a case to a tribunal of the International Centre for Settlement of Investment Disputes, or ICSID -- a case that finally came full circle this summer.

On June 29, ICSID ruled against Guatemala, awarding the company approximately $14 million in damages and fees from the Guatemalan government.

Source: Pittsburgh Post-Gazette