Guatemala Can't Pause $35M Award Fight

Law360 (May 22, 2020, 4:51 PM EDT) -- The D.C. Circuit has rejected Guatemala's bid to pause the enforcement of an $35 million arbitral award in favor of a Teco Energy subsidiary following a dispute over electricity tariffs.

In a one-page order Thursday, a three-judge panel said Guatemala had not satisfied "the stringent requirements" for a stay pending appeal of U.S. District Judge Randolph D. Moss's ruling enforcing the award issued to U.S.-based Teco Guatemala Holdings LLC.

An ICSID tribunal determined in December 2013 that the country was liable for Teco Guatemala's losses for the period before it sold its interest in a local electricity company called Empresa Electrica de...

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