Odyssey Marine Exploration, Inc. has received a favorable arbitral award from the International Centre for Settlement of Investment Disputes (ICSID). The tribunal awarded Odyssey and its subsidiary, Exploraciones Oceánicas S. de R.L. de C.V. (ExO), $37.1 million from Mexico for breaches of its obligations under NAFTA. This amount, which is net of Mexican taxes, includes interest and costs, and must be paid without any further taxes from Mexico. Odyssey released a press release on the same day with details about the award.
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