This comes after Honduras decided to withdraw from the International Centre for Settlement of Investment Disputes (ICSID) treaty in February 2024.
Once the withdrawal is complete, investors may lose access to ICSID arbitration, potentially limiting their legal protections when investing in Honduras.
The decision to withdraw was made last February and will take effect on Aug. 25 this year, reportedly part of a trend of anti-private investment policies under President Xiomara Castro.
“In the arbitration proceedings, ICTSI and OPC alleged that the Republic of Honduras has breached certain obligations,” ICTSI said in a stock exchange filing on Monday.
“There is no impact to day-to-day operations and management and ICTSI and OPC reiterate our position to open further discussions with the Government of Honduras to seek appropriate solutions,” it added.
