Builders Seek $226M Award From Mexico's Electric Co.

Law360 (July 27, 2020, 8:29 PM EDT) -- Mexico's state-owned electric company owes a group of Mexican and Costa Rican construction companies about $226 million from an arbitration award it hasn't paid yet, the builders told a New York federal court.

The builders, led by Omega Construcciones Industriales SA de CV, said Friday they won $224.7 million plus interest and about MX$28 million (nearly $1.3 million) in legal fees and arbitration costs against Comisión Federal De Electricidad, but the state-owned energy company still hadn't paid the award.

"The CFE has failed to pay any of the awarded amounts through the date of this filing," the builders said.

They asked...

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