Honduras rejects proposal to go to mediation process with Honduras Próspera Inc.
By Próspera Team1 min read
Yesterday, December 1, 2022, the Government of Honduras refrained from accepting a proposal to resolve differences through a mediation process with Honduras Próspera Inc., the promoter and organizer of Próspera ZEDE.
Previously, the Government of Honduras refused to participate with Honduras Próspera in the consultation process under CAFTA-RD, The agreement would have been negotiated in accordance with basic and customary rules that included guarantees of confidentiality of the discussions to ensure candor and good faith. Any negotiated solution would have been made public and subject to all necessary approvals.
The most recent proposal from Honduras Próspera Inc, which was dismissed by the Government of Honduras, invoked the Mediation Rules of the International Centre for Settlement of Investment Disputes (ICSID).. Prosperous Honduras had hoped that a formal international mediation process would have brought the parties together, empowered them to reach common ground, and that any differences would have been reasonably resolved through negotiation.
Honduras Prospera Inc regrets that the Government of Honduras has not agreed to seek a negotiated solution. Honduras Próspera is a U.S. investor and had previously notified Honduras that it intended to file an international arbitration dispute under CAFTA-DR if a negotiated solution was not possible.
A press conference has been scheduled for Thursday, December 15, 2022, at 10:00 a.m.
For more information, please contact medios@prospera.hn.