Guatemala Pays Teco $37M In Long-Running Power Tariff Suit

Law360 (November 25, 2020, 5:55 PM EST) -- Guatemala has paid $37.4 million to a subsidiary of U.S.-based Teco Energy Inc. to satisfy an arbitral award the country had challenged for seven years in a long-running dispute over electricity tariffs.

The Central American country satisfied the judgment against it in favor of Teco Guatemala Holdings LLC, a little more than a week after trying to block the energy company from accessing almost $16 million held by Bank of New York Mellon, the parties said Tuesday in a joint motion.

The parties told a New York federal court the 2013 judgment, which totaled $37.4 million with interest as of Nov....

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