Banco Sabadell | According to press reports, UNCITRAL (United Nations Commission on International Trade Law) has dismissed the arbitration proceedings initiated by Sacyr against Panama for the Canal expansion works. We recall that this was a claim for damages that we estimated could be around €1 billion BS based on the Agreement on Reciprocal Protection and Promotion of Investments between Spain and Panama.
Assessment: This news has no impact insofar as our assessment did not include any cash inflow from this arbitration and the outcome will not have any negative effect on the company’s accounts.
