News & Updates

May 8, 2017

GPP and WRB File Arbitration Claim with ICSID to Enforce Government of Grenada’s Obligation to Repurchase GPP’s Grenlec Shares

On May 5th Grenada Private Power Limited (GPP), the 50% shareholder of Grenlec, along with GPP’s parent company WRB Enterprises Inc. (WRB), filed a request for arbitration with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID); the purpose of this arbitration is to enforce the Government of Grenada’s contractual obligation to repurchase the 50% Grenlec shareholding that Government previously sold to GPP.