US investors push for $95 million in Costa Rica row

U.S. investors who claim Costa Rica owes them more than $95 million for shutting down their beachfront villa project have told a World Bank tribunal that a local municipality’s work near the would-be villas undermines the country’s argument that the site had protected wetlands that required a halt on construction.

In a 300-plus-page brief that the International Centre for Settlement of Investment Disputes republished Tuesday, the investors again pushed back against Costa Rica’s decision to pull the plug on construction.

Source: Law360