The ruling in IC Power v. Guatemala (Energuate)
- The legal framework for foreign investment
- Arbitration and investor protection
- not audited
IC Power Asia Development sued under UNCITRAL rules (ad hoc/PCA) invoking the Israel-Guatemala BIT (identification of the treaty still to be confirmed) over Energuate's electricity distribution (DEORSA-DEOCSA). The final award of 7 October 2020 dismissed the claims by majority, with G. S. Tawil dissenting. The background: Energuate paid around US$75 million to the tax authority (SAT) under protest after criminal measures for tax fraud. Enforcement and costs were litigated in the Southern District of New York in 2022.
The research is written in English; quoted figures, source names and the titles of legal instruments stay in the language their source published them in.
Figures
- IC Power v. Guatemala final award
- 7 October 2020 — claims dismissed by majority
- Energuate payment to SAT under protest
- ~US$75 million
Caveat
Sources
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