Mexico targets $ 47 million mortgage-fighting prize


By Caroline Simson (December 7, 2021, 7:41 p.m. EST) – Mexico to seek to overturn $ 47 million in compensation awarded to Canadian lender after international tribunal finds it denied justice in court courts nationwide, arguing in Washington, DC, that the court “invented” an obligation not contained in the underlying treaty.

The country told the court on Monday that the court that awarded the award to Canadian company Lion Mexico Consolidated LP had exceeded its authority, arguing that the arbitrators had “openly admitted” to having disregarded the ordinary meaning of the Free Agreement. North American exchange ignoring that the relevant section of the treaty only protects investments, not investors …

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