Honduras: Less Demand for DollarsThursday, September 11, 2014 Dollar purchases by financial institutions in the first eight months of the year were down 6% compared to those in the same period of 2013. From 2 January to 30 August 2014 $5,887.1 million was awarded to institutions participating in the auction of currency by the Central Bank of Honduras, while in the same period in 2013 the figure was $6,268.2 million. Costa Rica: Autopistas del Sol SuedMonday, October 25, 2010 The company, who holds concession of the San José-Caldera highway, is facing a lawsuit for $ 1.1 million in environmental damages. The areas affected are between Ciudad Colón and Orotina. HSBC Sued for Millions in El SalvadorThursday, November 19, 2009 Coffee grower José Antonio Salaverría filed a complaint against the company for $22 million. Salaverría argues that the bank breached a contract that guaranteed funding for his coffee mill. Trump Sues Owners of Trump Ocean ClubWednesday, November 4, 2015 For having wrongfully terminated the management company of the building, Donald Trump is claiming $75 million from the condominium owners in Panama. CBS News reported that the suit was filed by Donald Trump confidentially with the International Chamber of Commerce, based in Paris. The argument behind the claim is that the owners of the condominium Trump Ocean Tower prepared a "... Energy Demand Continues to IncreaseThursday, May 31, 2012 In Panama there was an additional demand for 10 MW in a single day, highlighting a trend driven by the rapid growth of the economy. On Tuesday 29 May, the National Dispatch Centre of the Electricity Transmission Company (Etesa) recorded an additional demand of 10 megawatts nationwide. State of Guatemala Wins Arbitration Against IberdrolaTuesday, August 21, 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. The lawsuit filed by Iberdrola, a major shareholder and operator of the Empresa Electrica de Guatemala (EEGSA), in late 2009, was due to a disagreement on the rate of Value Added Distribution (VAD), in force since August 2008. Costa Rican State Sued due to Moin ConcessionMonday, March 14, 2011 The National Banana Chamber filed a lawsuit in order to nullify the award to a foreign company of a new container port in Moin. Among arguments included in the law suit presented before the Administrative Court, it states that the tender lacks any technical, environmental or financial studies. State of Guatemala Sued for $672 MillionMonday, December 7, 2009 The lawsuit was filed by Iberdrola, main shareholder and operator of EEGSA (Empresa Eléctrica de Guatemala, 'Electric Company of Guatemala'). 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. Meco Sues El Salvador for $14 millionFriday, December 14, 2012 The Costa Rican construction company is suing Fomilenio and the Salvadoran government for cost overruns on Longitudinal del Norte Highway. According to a document submitted by the company before the Public Works Committee of the Legislature, the cost of section six, which includes Ciudad Barrios-Osicala and Delicias de Concepción-Cacopera, went from $23 million to $44.8 million. U.S. Denounces Labor Conditions in GuatemalaTuesday, May 17, 2011 The U.S. government believes that Guatemala has not taken sufficient measures to resolve problems with labour conditions. In 2010 the U.S. censured the Guatemalan government for not ensuring acceptable work conditions nor rights of association for its workers. A Problem That Would Have Been Nice To HaveMonday, September 12, 2011 With the economy slowing down demand for electricity in Costa Rica will no longer increase, as was expected, and the prospect of supply deficit has gone away. The Instituto Costarricense de Electricidad (ICE) has revised downwards the projected increase in electricity consumption for the coming years, which temporarily removes pressure on any new generating plants. Increased Energy Demand in GuatemalaFriday, November 18, 2011 In the first nine months of the year, electricity demand increased by 7.8% compared to the same period in 2010. Prior to this, the average increase up to 2007 was between 4% and 6% annually, however 2008, 2009 and 2010 showed increases of 0.29%, 0.87% and 3.7% respectively. Energy Demand Up 6% in GuatemalaThursday, July 1, 2010 Between January and May, energy demand increased 6.2% when compared to the same period of 2009. In the first five months of the year, the country consumed 3.314 gig watts hour (GWh), more than the 3.120 GWh from the same period of 2009. More Costs for Construction in HondurasThursday, June 12, 2014 If a company in the construction sector wants to sue the state for breach of contract it must deposit the equivalent of 20% of the value of the claim. The measure which comes into effect this year is set out in Article 278 of the recently enacted Public Finance Ordinance, Control of Exemptions and Evasion Measures, and indicates that the deposit must be equal to 20% of the value of the claim and must be made before the legal process is started. Cemex Wins $10 million Court Case Against Costa Rican MunicipalityWednesday, October 26, 2011 After 10 years of litigation, the First Chamber of the Judiciary has ruled in favor of the cement company Cemex on a case related to tax collection. According to the Municipality of Abangares, in the province of Puntarenas, the cement company owed $10 million in tax payments related to the operation of a quarry. |
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