Tribunal Finds No Jurisdiction Over Oil Rig Investors’ Claims Against Mexico

Mealey's (September 20, 2024, 12:32 PM EDT) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Sept. 19 published a tribunal’s award rejecting jurisdiction over U.S. oil rig investors’ $270 million North American Free Trade Agreement (NAFTA) claim against Mexico for allegedly driving their investment into bankruptcy, but awarded Mexico no attorney fees due to its “procedural misconduct” during the document production phase....

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