Split Tribunal Won’t Award $24.8M More For Detention Of Vessels In Mexico

Mealey's (August 30, 2022, 1:25 PM EDT) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Aug. 26 published a split tribunal’s decision rejecting a Singaporean shipping company’s request for an additional award of nearly $25 million more damages on top of more than $6 million awarded for the detention of its subsidiaries’ vessels in Mexico, while a dissenting arbitrator said the bilateral investment treaty (BIT) was misinterpreted....

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