Head of Dinsmore’s International Dispute Resolution Practice and Washington, D.C. partner Ivan W. Bilaniuk spoke to Debtwire for a story about a USMCA case that will likely be decided in the summer of 2024. The publication reports that an affirmative decision would trigger the International Centre for Settlement of Investment Disputes (ICSID’s) acceptance of the case involving TV Azteca creditors. An excerpt is below:<\/p>\n\n\n\n
A decision from an International Centre for Settlement of Investment Disputes (ICSID) arbitration tribunal on whether the body is able to hear the case of TV Azteca creditors Cyrus Capital Partners and Contrarian Capital Management against the Mexican government is expected as soon as June or July, according to two sources close to the matter.<\/em><\/p>\n\n\n\n \u201cThis is not the prototypical investment arbitration dispute in which an aggrieved foreign investor brings a claim against a foreign state for expropriating its investment directly or constructively through state action,\u201d said Ivan Bilaniuk, Head of the International Dispute Resolution Practice at US law firm Dinsmore & Shohl, which is not involved in the case. \u201cHere in the TV Azteca case, the dispute is between private parties – TV Azteca and its foreign creditors. The foreign credit holders are TV Azteca bondholders and they were unable to prevail in litigation before local Mexican courts when TV Azteca sought relief from having to make payments during the COVID-19epidemic.\u201d<\/em><\/p>\n\n\n\n