Ecuador defends itself in Hague from suit filed by U.S. multinational

Posted on December 6, 2011 • Filed under: Business, Conflicts, Ecuador, United States

The demand for electricity operator who submitted the Ulysse, is for alleged violations of the Bilateral Treaty on the Promotion and Reciprocal Protection of Investments (TBI).

The U.S. multinational calls for the Government of Ecuador for compensation for at least $ 56.1 million to the alleged violations of a contract in 2006 to supply 50 megawatts of energy through a power generating barge, which was never operational. The court hearing of the Permanent Court of Arbitration at The Hague will take place between 5 and 9 December, and the Ecuadorian State’s defense will be led by the head of the Attorney General, Diego Garcia. Read Article

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