Settlement Agreement brings ICSID arbitration proceedings between Enel Fortuna S.A. and Panama to an end

The Settlement Agreement provides for the withdrawal of Enel Fortuna’s request for arbitration, each party’s permanent release from liability for any damages claims based on the Settlement Agreement and for the payment of USD 15,500,000 by Panama to Enel Fortuna S.A. within 6 months. The analysis that follows highlights the events that led to the settlement.