Tribunal Finds No Jurisdiction Over Beachfront Investors’ Claim Against Mexico

Mealey's (January 5, 2023, 2:56 PM EST) -- WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) tribunal in a recent award dismissed for lack of jurisdiction claims for $80 million in damages brought against the United Mexican States by six investors from Argentina, France, Portugal and Canada for expropriating their investments in beachfront properties, finding that three investors had renounced their nationalities in exchange for Mexican citizenship and the others lacked proper title under Mexican law....