Caribbean & Central America - January 2007 (ISSN 1741-4458)

Unión Fenosa, a Spanish company, is claiming US$55m from the World Bank's Multilateral Investment Guarantee Agency which insures companies against unilateral action by governments of countries in which they have made investments. The Unión Fenosa claims that the Nicaraguan government acted unfairly against it in 2006 when it was subjected to a series of heavy fines for failing to supply electricity. What Unión Fenosa wants is for the World Bank to mediate between it and the government to settle the dispute.  

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