Tuesday, December 5, 2023

Logo Central America Link

US company wins Cafta rail dispute with Guatemala

Tuesday, July 10, 2012

After a five-year legal battle with the Guatemalan government, US-based Railroad Development Corp. says it has been awarded more than $14 million in damages and administrative costs under Cafta.

On June 29, a tribunal of the International Centre for Settlement of Investment Disputes unanimously ruled that Guatemala had violated the free trade agreement.

In 1997, Ferrovías Guatemala, the Railroad Development Corp.'s Guatemalan affiliate, began a 50-year deal with the Guatemalan government to operate the country's national railway.

Source: Pittsburgh Post-Gazette