Juan Fernández-Armesto (President), David J.A. Cairns (Claimant’s Appointee) and Laurence Boisson de Chazournes (Respondent’s Appointee)
In 2007, Claimant, a Canadian company, granted three loans to a group of Mexican companies (Debtors) to develop three separate real estate properties in Mexico’s Pacific Coast and Midwest. Each loan was secured by a promissory note and a mortgage on the plots of land on which the real estate projects were to be built. By 2009, the Debtors defaulted on the loans and started negotiations with Claimant to avoid foreclosure. The parties negotiated for years without success.