Honduras to face USD 10+ billion ICSID arbitration over Próspera Economic Development Zone repeal

On 3 February 2023, the ICSID Secretary-General registered a request by Honduras Próspera Inc. (U.S.), St. John’s Bay Development Company LLC (U.S.) and Próspera Arbitration Center LLC (U.S.) for the institution of arbitration proceedings against the Republic of Honduras under the ICSID Arbitration Rules (ICSID Case No. ARB/23/2).