[ad_1]
Houston-based Monterra Energy—owned by KKR & Co.—announced Monday that it intends to sue Mexico to recover the value of its fuel-storage terminal in Tuxpan, a Gulf Coast city in Veracruz state. The facility was closed at gunpoint by the Mexican government in the wee hours of Sept. 14 and has not been allowed to operate since.
According to a notification sent to Mexico’s Ministry of Economy, Monterra investors seek $667 million in compensation, plus interest and legal costs. Yet any financial settlement that Mexico may be forced to pay is likely to dwarf the damage caused to the country’s reputation as a destination for capital.
[ad_2]
Source link
