Dominican Republic Sued Over Electricity Gaffes

Law360, New York (February 7, 2007, 12:00 AM EST) -- Two investment firms have sued the Dominican Republic for $680 million, claiming that the country lost electricity revenues to fraud, mismanagement and the inability to rein in electricity theft.

The Dominican government said it received notice this week of the lawsuit, filed by Los-Angeles based TCW Group Inc. and French firm Société Générale in the United Nations Commission on International Trade Law in Vienna and the International Chamber of Commerce in Paris.

The suit alleges that the country violated an energy deal with TCW when it...
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