CNO formerly Odebrecht is Sentenced to Pay More than 30 Million Dollars to Tocumen International Airport
Source: Tocumen International Airport Tocumen International Airport S.A. (AITSA) has achieved a momentous legal victory against the construction company Norberto Odebrecht S.A. (now CNO, S.A.), which has been ordered to pay $29,100,000.00 in lost profits and $1,661,730.31 in damages. In total, the arbitration sentence dictates a financial recognition of $30,761,730.31 in favor of AITSA. This ruling represents a milestone in the dispute that began in September 2021, when AITSA decided to terminate contract No. 038/12 with Odebrecht due to serious non-compliance in the execution of the Terminal 2 expansion program. The work, which was to be delivered at the end of 2017 suffered multiple delays due to eight addendums and persistent non-compliance by the contractor, which forced AITSA, a 100% [...]