MANHATTAN (CN) - The Republic of Bolivia illegally expropriated Euro Telecom International's half share in Entel, the Bolivian telephone company, the European telecom claims in Federal Court.
Bolivian President Evo Morales nationalized the Empresa Nacional de Telecomunicaciones Entel by proclamation on May 1. ETI claims the expropriation was illegal, and that Bolivia paid it nothing for the shares, which are worth at least $36 million.
ETI says it tried to arbitrate the dispute in 2007 at the World Bank's International Center for Settlement of Investment Disputes in Washington, D.C., but Bolivia refused to participate.
ETI is represented by Orrick, Herring & Sutcliffe.
Subscribe to Closing Arguments
Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.
Additional Reads
-
Alaska, Hawaiian Airlines April 17, 2024 -
-
Contributor-Test-Post-2024-04-12 April 12, 2024 -
