Guatemala Seeks Lawyers for Ferrovías Lawsuit

The Ministry of Economy is searching for legal professionals to continue the arbitration process requested by Ferrovías.

Wednesday, July 20, 2011

On July 7 the country must present its statement to the International Centre for Settlement of Investment Disputes (ICSID), but in the absence of professionals to take on the case, it has requested an extension.


"'We are looking for a favorable proposal in accordance with the interests of the state, for this reason we are evaluating a group of lawyers who wish to continue with the case which was being handled by the firm Arnold & Porter LLP’ said Velasquez.

"We hope that it will be a fair and just process, now that it is time for Guatemala to present its arguments and position. The state needs to find specialists in arbitration cases, since the previous firm knew the issues very well", said the defense for the company Railroad Development Corporation (RDC), owner of Ferrovías, Juan Pablo Carrasco”, in an article in Siglo21.com.gt



More on this topic

A Light at the End of the Tunnel for Guatemalan Railway

July 2012

After the court decision that awarded the Guatemalan State the rights to the railroad, President Perez Molina has announced interested in its recovery.

The president of Guatemala announced that investors, who as yet have not been identified, would be willing to bear the cost of debt that the State has with company "Ferrovías", calculated at more than $11 million.

Guatemala: Korean Company agrees to Purchase Ferrovías

January 2012

Representatives from YooChang Construction announced an agreement to purchase 82% of the shares of the Railroad Development Corporation (RDC), owner of Ferrovías.

The announcement was made by the president of YooChang Construction on a visit to Guatemala, who next week will be holding a meeting with directors of the RDC for the purpose of defining the first payment agreement.

Korean Companies Interested in Guatemala Rail

May 2011

The firms Hyundai Corporation and Sha Yu have shown interest in acquiring a stake in the railroad business.

Guillermo Porras of The Attorney General's Office, said that in the course of this month a delegation from the Hyundai company will arrive for a fact finding mission and to learn about the state of the petition for arbitration that the Railroad Development Corporation (RDC), railways beneficiary, has brought against the Government of Guatemala.

State of Guatemala unsuccessful in stopping Ferrovias lawsuit

November 2008

Ciadi, based in Washington, rejected the request by the State of Guatemala to suspend the suit for $65 million that was presented by Ferrovias in 2007.

By rejecting the objection, the International Center for the Resolution of Investment Disputes (Ciadi) asserts that it has the jurisdiction to handle the case in which the RailRoad Development Corporation (RDC), the majority shareholder in Ferrovias, is suing the Government of Guatemala.

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