Barceló and Nicaragua to go to arbitration

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.

Thursday, June 26, 2008

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.
The controversy is over the ownership of Centro Turístico Montelimar, which Barceló purchased in 1993. The state contends that Barceló has failed to fulfill its commitments as a buyer.

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.

Prensa.com 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 insists that it owes Nicaragua nothing

June 2008

Executives from the Grupo Barceló repeated this Thursday that they owe nothing to the State of Nicaragua and refused to make further comments on the lawsuit presented by the government.

The company's legal reprentative, Tomás Delaney, told reporters that they have reviewed the lawsuit sent to the Washington-based International Center for Settlement of Differences Relative to Investments.

Barceló seeks international arbitration in its dispute with Nicaragua

June 2008

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

The government, through its Justice Department, insists that Barceló owes three million dollars for commitments made in its privatization contract.

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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