CPO Updates NAFTA Chapter 11 Arbitral Tribunal Proceedings
Corn Products International, Inc. (NYSE:CPO), a leading global provider of ingredient solutions to diversified industries, has received a further decision in its case against the United Mexican States arising out of a 2002 tax imposed on soft drinks using sweeteners other than cane sugar.
The tribunal has issued a correction of its August 2009 damages award. While the amount of damages, $58.4 million, has not changed, the decision makes the damages payable to Corn Products International, Inc, instead of its wholly owned subsidiary, CPIngredientes, to eliminate double taxation.
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