GUPC, the consortium in charge of the Canal expansion, must return $848 million in advances to the Panama Canal Authority.
From the Panama Canal Authority press release:
December 12th, 2018. Contractor of the Design and Construction Contract for the Third Set of Locks of the Panama Canal Expansion Program, Grupo Unidos por el Canal, S.A. (GUPCSA) and its shareholders filed an appeal against the ACP under the Rules of Arbitration of the International Chamber of Commerce (ICC), based in Miami, United States. Through this arbitration, GUPCSA requested the Arbitral Tribunal to declare that the Advances granted by the PCA for the execution of the Contract had not expired and were therefore not effective and enforceable until all its claims were resolved in arbitration.
Nacion.com reports that "...The case dates back to 2002 and relates to a BOT - build, operate and transfer - contract signed between the ICE and the Spanish private generator to produce 50 Megawatts (MW) of energy with a water source in the canton of Turrialba."
The company Oceana Gold has paid the $8 million it owed because of the international arbitration case it lost against the Salvadoran state and has announced that it has no plans to continue mining activities in the country.
With the payment of $8 million plus interest, an end has been brought to the litigation that began years ago between Pacifi Rim, now Oceana Gold, and the Salvadoran state.
The absence of a municipal permit could be the reason behind the temporary suspension of the operations of the Quetzal Container Terminal ordered by the Joint Appeals Chamber of Escuintla.
The union of workers of Empresa Portuaria Quetzal (EPQ) filed a legal petition arguing that the company did not submit a municipal license to operate.The Escuintla Joint Appeals Chamber ordered the suspension of operations and required the EPQ to submit a report on compliance with the resolution within 48 hours.
A new ruling by the International Center for Settlement of Investment Disputes requires the mining company OceanaGold to pay interest on the $8 million it owes to the Salvadoran State.
From a statement issued by the Comptroller General of the Republic:
The Brazilian government claims that the 6,8% increase in the tax on sugar imports from the south american country is in violation of a WTO anti-dumping agreement.
The South American country has until 22 January 2017 to implement the recommendations and rulings established by the Dispute Settlement Body of the WTO.
The announcement of the WTO comes after Colombiaannounced the replacement of the controversial mixed tariff by a threshold of $10 / kg for clothing and between $6 and $10 per pair of shoes, and the temporary application of maximum tariffs of 40% and 35%, respectively and above that threshold, a tariff of 15%.
The International Centre for Settlement of Investment Disputes has ruled in favor of El Salvador in the dispute with the mining company OceanaGold, owner of the El Dorado gold mine.
Maersk Group subsidiary have agreed to indemnify the state $43 million and sign a new concession contract in order to operate the Quetzal Container Terminal.
The agreement suggested by the auditor of the Quetzal Container Terminal (TCQ by its initials in Spanish), Alexander Aizenstatd, must be approved by the Guatemalan Congress.
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The acquisition of TCB by APM Terminals means that any dispute concerning the granting of Puerto Quetzal will involve the largest group in the world in the maritime sector, the Maersk shipping company.
Following the Public Ministry's denouncement of the existence of an illicit money laundering network operating in the Container Terminal at Quetzal , the government of Jimmy Morales is torn between declaring void the concession contract with the current operator, TCB, as recommended by the Attorney General's Office on several occasions, or making other arrangements with the company. The Morales government may have to negotiate with the Danish giant Maersk Group, which bought 100% of the shares of the Spanish TCB in October 2015, according to an article on Elperiodico.com.gt.
Competing with multinationals under DR-CAFTA requires companies to comply with all the necessary processes to protect their brands, processes and products.
The arrival of multinational companies in Central America competing in legal equality with local or regional firms as a result of DR-CAFTA, highlights gaps in legal implementation and best practices for business on issues such as the protection of trademarks and intellectual property. In an analysis piece by Nacion.com, the need for companies and entrepreneurs to protect the product development process, their formulation and their brands is highlighted.
Employers indicate that taking the dispute to an arbitration panel will cost many millions of dollars and will result in indemnization payments, as it is clear that trade agreements and phytosanitary standards were breached.
The announcement by the Mexican authorities to take Costa Rica to a World Trade Organization (WTO) arbitration panel because of the dispute over avocados, has caused concern among employers who are members of the Chamber of Exporters and Importers of Perishable Goods (Ceipp).
The Panama Canal Authority will be making changes to the composition of consortia in tenders for construction works in order to prevent millions in losses because of claims made by subcontractors.
Conflicts between contracted parties who design and those who carrying out the works, and the lack of clarity in the responsibilities of each of the companies during the Panama Canal expansion motivated the adjustments to be made to future tender specifications.
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