- Canada—investor fails to set aside NATFA award (Nelson v Mexico)
- What did the court decide?
Law360: An American businessman failed to convince the Ontario’s Superior Court of Justice to revive his North American Free Trade Agreement (NAFTA) half-billion-dollar claim against Mexico for allegedly 'eviscerating' his investment in the state's telecommunications market after the arbitral tribunal rejected his claims in an award issued in July 2020. The court dismissed the application to set aside the tribunal's award, which was made under Article 34(2)(a)(ii) of the United Nations Commission on International Trade Law (UNCITRAL) Model Law on International Commercial Arbitration, as modified by the International Commercial Arbitration Act 2017. The arbitration was conducted pursuant to the 1976 UNCITRAL Arbitration Rules and administered by the International Centre for Settlement of Investment Disputes (ICSID).
Sign in or take a trial to read the full analysis.
To continue reading this news article, as well as thousands of others like it, sign in to LexisPSL or register for a free trial