Split ICSID Tribunal Awards $37.1M To Exploration Company Against Mexico

Mealey's ( December 23, 2024, 12:18 PM EST) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Dec. 20 published a split tribunal’s award ordering the United Mexican States to pay $37.1 million in damages plus interest to an American phosphate exploration company for breach of the North American Free Trade Agreement (NAFTA), while a dissenting arbitrator said the award is “premature” as a civil appeal in Mexico remains pending....

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