MEXICO CITY, MEXICO (By Fidencio Casillas, Editores LatinPetroleum, 29.Sep.2026, Words: 377) — Mexico’s Ministry of Economy successfully represented the Mexican state in the international arbitration initiated by Doups Holdings LLC, a company that in 2022 began this international dispute against the country seeking to claim more than MXN$600mn under NAFTA (the North America Free Trade Agreement), before the International Centre for Settlement of Investment Disputes (ICSID), a World Bank body responsible for resolving disputes between investors and states.
Doups argued it was a US investor that, through the Mexican company Pagomet, held concessions for the installation and operation of parking meters in Mexico City, the Ministry of Economy announced on 29 Sep. 2026 in an official statement.
The claim was based on an alleged impact on Doups’ investments due to the revocation of these concessions by the Mexico City Ministry of Mobility.
From the outset of the arbitration, Mexico maintained the claim presented serious deficiencies, specifically regarding the structure of the subsidiary that allegedly suffered the damages; the nationality and control of said subsidiary; and the procedural requirements for accessing arbitration.
In this regard, Mexico’s defense focused on demonstrating that Doups’ claims had serious deficiencies that prevented the Arbitral Tribunal from resolving the dispute in light of NAFTA.
In Sep. 2026, the Arbitral Tribunal ruled in favor of Mexico and determined that it lacked jurisdiction to hear the claims presented by Doups, dismissing the arbitration in its entirety.
Among other findings, it concluded that Doups had accepted being considered Mexican with respect to its investment, failed to demonstrate control of Pagomet, could not claim its losses as its own, and failed to comply with essential requirements stipulated in NAFTA prior to initiating arbitration. Furthermore, it ordered Doups to pay Mexico more than $1mn in expenses and costs.
The outcome of this arbitration confirms the strength of the Mexican State’s legal defense, led by the Directorate General of International Trade Legal Consulting of the Undersecretariat of Foreign Trade, with the support of Pillsbury Winthrop Shaw Pittman LLP. Throughout the arbitration, the State received institutional support from the Mexico City Ministry of Mobility.
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By Fidencio Casillas reporting from Mexico City. © 1999-2026 Energy Analytics Institute (EAI) and its 100% owned Venezuelan affiliate Editores Latin Petroleum CA. All Rights Reserved.
