The government analyzes a challenge to the ruling that imposed a million-dollar sentence against Uruguay due to the closure of the flag airline Pluna, after the International Center for Settlement of Investment Disputes published its more than 200-page ruling (ICSID) of the World Bank.
The ICSID arbitration began based on the claim of the Panamanian company Latin American Regional Aviation Company Holding. (Lara), with shares in Pluna. After the decision that the country has to pay 30 million dollars plus interest, which aroused strong criticism against the Broad Front, The Executive anticipated that the idea is to file a document, although it is not defined.
The Secretary of the Presidency, Rodrigo Ferres, He spoke at a press conference about the ruling, which he agreed to yesterday. “We are studying it thoroughly, with great caution and looking at the possibility of filing a document,” he admitted.
However, the leader clarified that “it has not been decided yet because it is a complex issue” and recalled that “there are 6 months to appeal”, implying that the government can take its time to analyze the most convenient option.
“We are looking at different steps, reviewing the amounts and the ruling in its entirety because we had only had access to certain conclusions, but not to the entire ruling, which exceeds 200 pages,” he said.
Ferrés defended the Uruguayan strategy
When asked about the actions of the former president Jose Mujica,Ferrés noted: “As I am coordinating the defense, I prefer not to go into any kind of substantive question about the matter.”
However, with respect to the costs of defense in international courts, he indicated that “the strategy that has Uruguay Now and in the past, trying to hire the best international professionals is an investment.”
While he admitted that the legal firm professionals of USA They can charge between 1,200 and 1,500 dollars per hour of work, the Secretary of the Presidency stressed that “in these large arbitrations, where the amounts are very exuberant, any type of ruling against can be a financial problem, it is something that usually happens to all countries of Latin America”, Therefore, he insisted on “not improvising and making a defense with seriousness and professionalism.”
Finally, he referred to the fact that the country faces a sentence much lower than the 800 million dollars it requested. Laura. “You are never totally satisfied when you have an adverse ruling that condemns the State to pay a very large sum of money. Yes, I believe that a conviction was achieved in the region of 6 or 7% of what the claim was,” he noted.
Source: Ambito
