U.S. Investors File Notice Of ICSID Case, Seek $98 Million From Panama

WASHINGTON, D.C. - Several U.S. citizens and a Panamanian corporation on Dec. 31 filed a notice of intent to arbitrate claims against the Republic of Panama in the International Centre for Settlement of Investment Disputes (ICSID), seeking no less than $98,483,753 in damages in relation to a residential development that allegedly was invaded for illegal narcotics trafficking (Retire in Chiriqui, S.A., James Falgout, Barbara Falgout and Clarence Johnson v. The Republic of Panama, ICSID).Full story on lexis.com