$100M Casino Arbitration Against Mexico Can Proceed

$100M Casino Arbitration Against Mexico Can Proceed

Law360 (August 3, 2020, 6:45 PM EDT) — A Canadian court has rejected Mexico’s bid to nix a ruling allowing a group of U.S. investors to move ahead with their $100 million arbitration claim after the country closed down their casinos, even though some of the investors failed to comply with procedural requirements in the underlying treaty.

Mexico argued that the tribunal lacked jurisdiction because the investors failed to comply with requirements in the North American Free Trade Agreement obligating them to give Mexico at least 90 days’ notice before submitting a claim to arbitration. At issue is the fact that the notice of intent submitted to Mexico in…

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