NAFTA covers mortgages but not notes, says tribunal
Sunset at Bahia de Banderas in southwestern Mexico, where Lion Mexico had invested in a high-end development (Credit: istock.com/Alexcrab)
In a first-of-its-kind decision, a NAFTA tribunal has partly upheld jurisdiction over a Canadian real estate investor’s US$233 million claim against Mexico after ruling that mortgages are protected investments under the free trade agreement, while promissory notes are not.
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