Contecon's Posorja legal challenge rejected
A request by Contecon, the ICTSI company which operates the container terminal at the port of Libertador Simón Bolívar de Guayaquil, to have DP World's Posorja concession suspended as a precautionary measure has been turned down by Ecuador's competition authority, the Superintendencia de Poder de Control de Mercado (SPCM).
Contecon's argument was that there were unfair practices linked to the concession process that would allow anti-competitive practices. Guayaquil port authority insisted that no measures will be approved that go against national interest.
The SPCM decided not to advance Contecon's request, since it had not demonstrated a "good law" against which precautionary measures could be granted.
Still in play is the $20m legal action brought by the Spanish group Albacora against the Ecuadorian state. The original complaint was lodged with the United Nations Commission on International Trade Law (UNCITRAL) on March 3.
Albacora, which holds a 10% stake in the Posorja project, claims that "the Ecuadorian State has violated rights granted in the Ecuador-Spain Treaty by denying certain tax exemptions to companies that were entitled to users and as part of the Free Trade Zone, under the Free Zones Act”.
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