A one-week arbitration hearing between the Government of Grenada and WRB and GPP (GRENLEC’s 50% shareholder) took place last week at the ICSID Hearing Centre in Washington DC. The arbitration concerned WRB and GPP’s repurchase demand for their GRENLEC shares.
Minister for Infrastructure Development, Public Utilities, Energy, Transport and Implementation Gregory Bowen, attended on behalf of the Government and was the main witness, together with Mr. Chester Palmer and Mr. John Auguste at the hearing. The team was accompanied by Sir Lawrence Joseph, former Attorney General and consultant to the Government of Grenada. Valuation experts from PricewaterhouseCoopers and the Brattle Group also appeared on behalf of the Government.
The Government was represented in the hearing by Debevoise & Plimpton LLP, with support provided by Grenadian counsel, Seon & Associates.
No date has been set for the handing down of the award but this is expected to be within months.
