Barceló seeks international arbitration in its dispute with Nicaragua

The Spanish consortium Barceló, owner of Hotel Montelimar in Managua, wants to resolve its differences with the government through international arbitration.

Wednesday, June 18, 2008

The government, through its Justice Department, insists that Barceló owes three million dollars for commitments made in its privatization contract.
Representatives of the Spanish company were to meet this afternoon with officials from the Superior Board of Private Enterprise and the National Tourism Chamber. They will officially state their case for seeking international arbitration at that meeting.

More on this topic

Nicaragua and Grupo Barceló Reach Agreement

June 2009

After a year of negotiations, the government of Nicaragua decided to drop its lawsuit against the Spanish consortium.

The government had sued the hotel group Barceló in an international court for noncompliance of a contract to purchase a resort on the Pacific coast. interviewed the prosecutor Hernán Estrada: “Nicaragua will form a partnership with the Spanish group as the majority partner in the tourist complex Montelimar Resort & Casino.”

Barceló and Nicaragua to go to arbitration

June 2008

The state of Nicaragua is suing Grupo Barceló for 30 million dollars, in a process that will go for arbitration before the International Center for Settling Differences Relative to Investments.

Although Barceló threatened to take the case to the international settlement center weeks ago, in the end it was the State of Nicaragua that took the initiative on arbitration.

Spanish envoy worried by Nicaragua's Barceló embargo

June 2008

Spain's ambassador to Nicaragua, Antonio Pérez Hernández, voiced concern over the government's decision to impose a preventive embargo on the Spanish-owned hotel Barceló Playa Montelimar Resort & Casino.

The ambassador added, however, that he felt sure Barceló could prove to the authorities that it had done nothing wrong.

Nicaragua demands that Grupo Barcelo returns ownership of Hotel Montelimar

June 2008

Nicaragua's Attorney-General's department advised that it has started a legal process to bring about the return of the Montelimar tourist complex, due to alleged non-fulfillment of the contract.

Attorney-General Hernán Estrada recently delivered the lawsuit to the third civil court of Managua.

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