Tag: International Centre for Settlement of Investment Disputes (ICSID)

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Economists Rally Behind Honduras in $10.8 Billion Legal Fight Over Crypto Island Project

March 21, 2024

A group of 85 economists has supported the Honduran government’s decision to leave the World Bank’s arbitration body, the International Centre for Settlement of Investment Disputes (ICSID), amidst a legal conflict with the crypto island project Próspera Inc., which seeks $10.8 billion in compensation after losing its special economic status due to legislative changes in…
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Crypto Lender Nexo Submits $3 Billion Damages Claim Against Bulgaria

January 26, 2024

The cryptocurrency lending platform Nexo has submitted a $3 billion arbitration claim against the Republic of Bulgaria, following a raid on its office in 2023 and a subsequent probe by the Bulgarian Prosecutor General’s Office. Nexo alleges that these actions harmed its business prospects. ‘Politically Motivated’ Allegations The Switzerland-based crypto lending platform Nexo AG has…
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