Re: Guatemala news
| April 17, 2008 02:56PM |
Best wishes for success to Henry Posner and Ferrovias Guatemala. The route and railroad are incredible.
From Train wire:
Arbitration process begins in Guatemala dispute
April 16, 2008
GUATEMALA CITY, Guatemala - The arbitration process has begun for Iowa Interstate's parent company against the government of Guatemala [see December 2007 "News"]. Pittsburgh-based Railroad Development Corp. filed the claim after the Guatemalan government took actions that RDC Chairman Henry Posner said caused investment in RDC-owned Ferrovias Guatemala to dry up.
Posner claims the Guatemalan government effectively shut the railroad down by declaring it to be against the interests of the state through a declaration of "lesivo," after RDC invested $15 million in the property. As continued investment dried up, Posner shut the railroad down in September 2007.
The International Centre for the Settlement of Investment Disputes will hear RDC's case.
From Train wire:
Arbitration process begins in Guatemala dispute
April 16, 2008
GUATEMALA CITY, Guatemala - The arbitration process has begun for Iowa Interstate's parent company against the government of Guatemala [see December 2007 "News"]. Pittsburgh-based Railroad Development Corp. filed the claim after the Guatemalan government took actions that RDC Chairman Henry Posner said caused investment in RDC-owned Ferrovias Guatemala to dry up.
Posner claims the Guatemalan government effectively shut the railroad down by declaring it to be against the interests of the state through a declaration of "lesivo," after RDC invested $15 million in the property. As continued investment dried up, Posner shut the railroad down in September 2007.
The International Centre for the Settlement of Investment Disputes will hear RDC's case.
| Subject | Author | Posted |
|---|---|---|
|
John West | April 17, 2008 11:19AM |
|
CHARLES MILNER | April 17, 2008 01:40PM |
|
Stephen Peck | April 17, 2008 02:56PM |
Sorry, only registered users may post in this forum.
488 stops for water at Los Pinos tank on closing day Oct. 1979. Photo courtesy Don Richter
The NGDF was started by Don Richter and is currently operated in his memory by Nathan Holmes and others. Others who have contributed to the upkeep of this board are (in no particular order): Charles McCandless, Everett Lueck, Ted Wilton, Cole Adams, James Bane, John Moellmer, Jon Bentz, Linn Moedinger, lloyd lehrer, Rod Jensen, John Craft, Steven Forney, Herb Kelsey, Bill Ramaley, Russ Sperry (El Russo Loco), Josh McNeal, John West, Jim Armstrong, Bob Bergstrom, Greg Scholl, Blake Forbes Doug van Veelen and Mark Fuller.