State of Guatemala Sued for $672 MillionThe lawsuit was filed by Iberdrola, main shareholder and operator of EEGSA (Empresa Eléctrica de Guatemala, 'Electric Company of Guatemala').Monday, December 7, 2009
It is the largest in Guatemala's history, and has its root in lack of agreement regarding an energy distribution tax called 'VAD' (Valor Agregado de Distribución), which came into effect on August 2008. Source: prensalibre.com ¿Busca soluciones de inteligencia comercial para su empresa?Mine Suspension: Arbitration Panel FormedJuly 2019 The arbitration panel was formed to hear the lawsuit against the State of Guatemala, which was filed because of the suspension of the operations of the El Tambor mine, in San José del Golfo and San Pedro Ayampuc. Lawsuit Between Teco and Guatemala To Be Resolved in 2014November 2013 For the first quarter of 2014 the Center for International Investment Arbitration could issue a ruling on the suit brought against the Guatemalan State. State of Guatemala Wins Arbitration Against IberdrolaAugust 2012 The International Centre for Settlement of Investment Disputes (ICSID) of the World Bank, has ruled against the claim of the Spanish company Iberdrola against the State of Guatemala. Empresa Electrica de Guatemala Being SoldOctober 2010 According to reports, the Spanish utility Iberdrola is in discussions to sell its shares in Empresa Electrica de Guatemala SA (EEGSA) to Colombian company Eléctrica de Medellín (EDM).
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