Mexico has appealed an international trade panel’s decision to award Metalclad Corp. $16.7 million for losses the California company incurred in building a Mexican hazardous-waste site it never was allowed to operate. Before the Supreme Court of British Columbia in Vancouver, Canada, Mexico challenged a ruling by an arbitration panel of the Washington, D.C.-based International Centre for Settlement of Investment Disputes (ICSID). Mexico says the ICSID panel overstepped its authority in deciding issues of Mexican law, failed to consider evidence presented by the defendant and did not address all the questions raised in the case about Metalclad’s actions. For its part, Metalclad expresses confidence that the Canadian court will uphold its award. “No evidence has yet been presented which would give rise to... [Log in to read more]
