True Blue Development Limited, True Blue Services Limited, True Blue Management Limited, Polar Palms Llc, and Circle Park Holdings Llc v Grenada - ICSID Case No. ARB/21/37 - Request for Arbitration - 17 June 2021
Country
Year
2021
Summary
Hospitality Firm True Blue Development Seeks International Arbitration against Caribbean Nation of Grenada, Claiming Government Broke Investor Agreement to Complete 5-Star Kimpton Kawana Bay Resort on Island
True Blue claims nearly-finished luxury condo resort has been targeted by government to "squeeze the project into failure;" True Blue principal Warren Newfield resigned as Grenada's ambassador- at-large and consul general in May, declaring country's leadership had turned into an "anti- business regime;" claims to be heard by World Bank arm for investor-state disputes ICSID; True Blue and investors represented by law firm BakerHostetler.