UN tribunal rules against Canada’s Edgewater in legal battle with Spain – by Valentina Ruiz Leotaud (Mining.com – April 26, 2020)

https://www.mining.com/

The United Nations Commission on International Trade Law (UNCITRAL) ruled against Canadian company Edgewater Exploration (TSX-V: EDW) in its long-standing legal battle with Spain related to the Corcoesto gold project in the northwestern region of Galicia.

This week, UNCITRAL dismissed Edgewater’s pretensions to recover the $35 million it had invested in Corcoesto prior to the project being denied permission by the Galicia Regional Government, known as Xunta.

“The company’s wholly-owned subsidiary, Corcoesto S.A. had commenced arbitration in 2016 under the Spain-Panama bilateral investment treaty and the UNCITRAL Arbitration Rules (1976).

Following a hearing in Paris, France during April 2018, the Tribunal rejected, unanimously, four jurisdictional objections by Spain but upheld, by majority in a 2 to 1 decision, one jurisdictional objection by Spain and dismissed the claim on that basis.

The dissenting arbitrator opined that the majority’s decision erred in both law and fact and that the Tribunal did have jurisdiction and should have decided the merits of the claim,” the Vancouver-based miner said in a media statement.

For the rest of this article: https://www.mining.com/un-tribunal-rules-against-canadas-edgewater-in-legal-battle-with-spain/

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