US EditionPanama Wins Canal Expansion Arbitration Against Spanish Company
Panama secured a favorable arbitration ruling against Spanish company Sacyr in a dispute over the Panama Canal expansion project.
- Panama won an arbitration with Spanish company Sacyr over the expansion of the Panama Canal, the report credited to Martin BERNETTI.
- Disputes over the Panama Canal expansion prompted arbitration involving contractual claims between Panama and Sacyr, the report says.
- The report describes Sacyr as a Spanish company involved in the arbitration over Panama Canal expansion, according to Martin BERNETTI .
- The arbitration ruling sided with Panama, ending the contested proceeding with Sacyr over expansion-related contract issues.
- The report appears via the BLOX Digital Content Exchange and was originally published on doc.afp.com with $24JC distribution tags in the source metadata.
71 Articles
71 Articles
Daily Journal
Panama wins canal expansion arbitration against Spanish company
Panama's government won a lawsuit against Spanish company Sacyr, officials said Friday, after the firm claimed it was owed around $2.3 billion for its work expanding the Panama Canal.
The Panamanian government reported this Friday that it won a lawsuit from the Spanish company Sacyr, which claimed $2,362 million for the expansion of the Panama Canal.
Panama Triumphs in Arbitration Over Canal Expansion Dispute
Panama won an international arbitration case against Spanish construction firm Sacyr over the Panama Canal expansion. The tribunal rejected Sacyr's claims and ordered the company to pay $6.4 million to the Panamanian government, marking a significant victory in the 2015 dispute.
Bad news for the infrastructure group Sacyr and its claim to obtain a million-dollar compensation from Panama, once the expansion of the canal that crosses the Central American country has been executed, so the company understands as a violation of the Agreement for the Protection and Reciprocal Promotion of Investments between Spain and Panama (APPRI).The Uncitral arbitral tribunal, based in Washington (USA), has rejected the arbitration initia…
elcorreogallego.es
informacion.esThe Arbitration Tribunal of the United Nations Commission on International Trade Law (Cnudmi or Uncitral in Spanish) has dismissed the arbitration initiated by Sacyr against the Republic of Panama, in which it claimed up to €1.7 billion for the overruns of the works it carried out between 2009 and 2016 to expand the Panama Canal.
The ruling, which responds to a demand from the company, orders Sacyr to pay some $6.4 million to Panama for the costs of the process.
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