Summary

HSBC Latin American Holdings (HSBC, the Bank) initiated legal proceedings against the Republic of El Salvador for breach of its investment treaty with the United Kingdom, and seeks to recover at least $49.3 million in damages that the Bank alleges were wrongly awarded against it by the Supreme Court of El Salvador.

The arbritation case will be heard by the International Centre for Settlement of Investment Disputes (ICSID). Based in Washington, D.C., ICSID is part of the World Bank Group and supports the resolution of international investment disputes between investors and sovereign states.

...