At least four multimillion dollar lawsuits against the Panamanian states have been referred to international arbitrage tribunals in the past few years.
In 2015, law firm Álvarez y Marín Corporación S.A lodged a complaint for $100m, against which the Panamanian state presented objections which were recently overturned by the tribunal’s centre for conflict resolution (CIADI). According to CIADI, the complaint concerns the expropriation by the Panamanian state of lands near the Costa Rican border that had been earmarked for a tourist
development project.
Other lawsuits have been filed in the meantime: construction companies IBT Group LLC, Constructor, Consulting and Engineering (Panamá), S.A., and International Business and Trade, LLC, filed a complaint for $50m in 2014. Last year, a news report falsely claimed that the complaint had been withdrawn.
In yet another case, energy companies Transglobal Green Energy, LLC and Transglobal Green Panamá, S.A. filed a lawsuit in relation to a hydroelectric power project in Chiriqui Province.
While the Atty. General’s office refuses to give official figures, the plaintiffs estimated that current law suits against the Panamanian state add up to $2.5bn. In the last few years, the special prosecutor office for civil matters, placed in charge of defending the interests of Panama both internally and internationally, has seen to about 200 complaints. In 2014, the prosecutor’s office received 140 new complaints and 349 appeals.
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