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Red Electrica Corporacion SA Seeks Arbitration Over Bolivia Nationalisation Of Its Transmission Business TDE-Reuters


Tuesday, 8 Jan 2013 02:07pm EST 

Reuters reported that Red Electrica Corporacion (Red Electrica) said that it had begun to seek World Bank arbitration over Bolivia's expropriation of its transmission business TDE. Bolivia decided to nationalise Red Electrica's power transmission unit TDE in May 2012 and said this move stemmed from the Company's failure to invest enough the country's electricity networks. A Red Electrica official announced that the Company has informed the ICSID (the International Centre for Settlement of Investment Disputes) of the process of dialogue. Under the arbitration rules, companies must allow some time for negotiation before the World Bank will consider the case. 

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