With T-MEC, they demanded $220 million from Mexico for each TV Azteca case

Weld company American Cyrus You Contrarian initiated arbitration against the State of Mexico for 220 million dollars as compensationby alleging violations T-MECfor one demands counter TV Azteca, telling you Ministry of Economy.

The Mexican government reported that its defense would be based on a demonstration that the controversy between TV Azteca and its creditors was not caused by the State.

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The North American company argued that the measure issued by the 63rd Civil Court in Mexico City violates what is stipulated in the Free Trade Agreement.

Economics reveals that June 4, 2024Mexico, through the Ministry of Economy, conveyed this Notice of Objections to Jurisdiction in which he argued that Cyrus and Contrarian had no right to sue the State of Mexico in international arbitration for not complying with the requirements specified in Annex 14-C of T-MEC and NAFTA.

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“This defense is intended to show that the Court is not competent to try the case, and on this basis the case should be dismissed,” explained Economía.

CSAS

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