Cabo Verde settles ICSID claim

In a Telecom case brought by PT Ventures, a Portuguese company, against it under the Cabo Verde – Portugal BIT in 2015, the government has settled with the claimant. On March 26th 2019, the parties informed the Arbitral tribunal that they were negotiating a possible agreement and requested the suspension of the procedure and through a letter dated May 22nd 2019, the parties informed the tribunal that they have reached an agreement and wish to discontinue the procedure.

On June 10th 2019, the Arbitral tribunal issued a procedural order taking note of the discontinuance of the procedure, which brings an end to the case that was filed in 2015.

The Arbitral tribunal was composed of Fernando Mantilla-Serrano, Colombian national appointed by the Claimant, Benfeito Mosso Ramos, Cabo Verdean national appointed by the respondent and Juan Fernández-Armesto, a Spanish national appointed by the parties.

PT Ventures was represented by Vieira de Almeida & Associados from Portugal and the government of Cabo Verde was represented by Gide Loyrette Nouel from Paris, J.G. Assis de Almeida & Associados from Brazil, José Manuel Gomes Andrade and Oliver Melo Araújo from Cabo Verde.

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