Tribunal Acknowledges Error In Costa Rica Real Estate Award

Law360, New York (April 20, 2017, 7:37 PM EDT) -- An arbitration initiated by U.S. real estate investors who claim Costa Rica improperly took over their land for a national park has taken a left turn after the tribunal acknowledged an “error or omission of a factual nature” in an award issued last fall dismissing much of the dispute.

The statement came in an April 17 letter concerning a decision last October by an International Centre for the Settlement of Investment Disputes tribunal. It had decided at the time it lacked authority to consider the investors'...
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