2 thoughts on “Did the Las Olas CAFTA Case Show that US Investors had a “HORRIBLE” Corruption Experience in Costa Rica?

  1. Yesterday the International Court of justice ruled in Costa Rica’s favor regarding Nigaragua’s land grab (https://news.co.cr/international-court-justice-awards-costa-rica-disputed-territory/70339/) “”Costa Rica welcomes and respects the ruling of the International Court of Justice” said the Costa Rican MInister for Foreign Affairs, he added that “The Costa Rican government invited the Nicaraguan government to “take this opportunity to show good faith and respect the judgments of the ICJ”
    In anticipation of a judgement from the International Court on the Las Olas case it will be interesting to see how the two sides react to the upcoming verdict. Will they both show decorum and similar good faith and as the Costa Rican Government have in their vanquishing Nicaragua’s illegal and cynical theft of sovereign territory?

  2. Update 03/14/2018:
    “We are pleased that the government of Nicaragua has fulfilled its obligation towards Costa Rica, as commanded by the International Court of Justice.”
    Let us hope that Costa Rica intends to follow in Nicaragua’s footsteps – for not to do so would be the height of Hypocrisy and bad faith. Vamos a Ver!

    Nicaragua pays Costa Rica a $380,000 as a compensation for invading Portillos Island

    By A.M. Costa Rica staff

    The Nicaraguan government paid Costa Rica $380,000 as compensation for material damages done after a military occupation that took place in 2010 on Portillos Island, located at the northern end of Calero Island, facing the Caribbean Sea.

    The Ministry of Foreign Affairs and Worship said the Nicaraguan chancellor, Denis Moncada, delivered a diplomatic note to his Costa Rican counterpart, Manuel González, in which the transfer of $380,000 was credited to the Central Bank of Costa Rica.

    The measure is in compliance with the ruling of the International Court of Justice Feb. 2.

    “We have verified that the amount was credited, so we are pleased that the government of Nicaragua has fulfilled its obligation towards Costa Rica, as commanded by the International Court of Justice. Actions such as this help both countries gradually build a better relationship for the benefit of their people,” said González in a press release.

    The disbursement includes interest accrued since December 2015 at a rate of 4 percent, when the international body recognized the national right to compensation. Nicaragua had only recognized the payment of $188,000.

    Consequently, the court in the Hague had ruled that if the Nicaraguan government did not make the payment by April 2, interest rates would start running at a rate of 6 percent.

    The figure recovered by the country turned out to be much less than the $6.3 million requested, due to an inability of the national representation to demonstrate most of the expenses incurred by the country in repairing the environmental damages on the island of Portillos. Costa Rica completed the process with just 5.6 percent of the original sought amount.

    The payment is broken down as follows: $120,000 for degradation or loss of environmental goods and services, $2,708 for wetland restoration costs, $236,032 for costs and expenses caused by illicit activities and $20,150 for interest.

    Ministry of Foreign Affairs and Worship photo
    Last month Nicaragua soldiers were withdrawn from the area.

    According to the court resolution, Costa Rica was not able to demonstrate clearly that some invoices for the payment of satellite images belonged to the area in conflict.

    The normal salary of police officers and the creation of an environmental base were also sought as part of the compensation. In the first case, the court determined that the remuneration did not imply additional costs for the country, and in the second case police activity was not an aspect directly related to the invasion by Nicaragua. Costa Rica flooded the extreme northeastern part of the country in the face of the invasion.

    Last June 7 the country presented its compensation request to Nicaragua, but, faced with the refusal of that nation, Costa Rica had to resort to the International Court of Justice to establish the amount.

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