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Nicaraguans win $18 million redress for nationalization

Wednesday, March 27, 2013

Two members of the Solórzano family in Miami won $18 million in federal court judgments Thursday against the government of Nicaragua, regarding a government takeover of Managua-based Laboratories Solka.

US District Judge Ursula Ungaro handed down the judgments regarding alleged Sandinista-backed takeovers of Solka in 1979 and in 2007. Miami attorney Alfonso E. Oviedo-Reyes represented the Solórzanos.

Lylle Araya-Solórzano won a judgment for non-payment under a 2008 agreement for $4 million with the Republic of Nicaragua. The judgment also included interest and other costs for a total of $12.3 million.

Source: South Florida Business Journal