March 8, 2013 - Foreign Affairs and International Trade Canada today issued the following statement:
Today, Foreign Affairs and International Trade Canada announced that it accepted the settlement proposal by St Marys VCNA, LLC, in relation to the company’s claim under Chapter 11 of NAFTA.
Canada accepted the settlement because St Marys VCNA, LLC, has agreed to irrevocably and permanently withdraw its NAFTA claim against Canada. In doing so, St Marys VCNA, LLC, acknowledges that it lacks and has always lacked standing to bring this claim under NAFTA Chapter 11. Therefore, no payment has been made by the Government of Canada in the settlement of this dispute.
The consent award, including the settlement agreement, will be made available soon at St Marys VCNA, LLC v. Government of Canada.
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