Press Releases

New Collaboration Expands Access to Justice and Private Investment in Latin America

MOU Signed by Próspera Arbitration Center and the Arbitration and Conciliation Center of the Commercial Defense League of Uruguay

March 3, 2023

PRÓSPERA ZEDE, ROATÁN, IB, HN - Today, the Próspera Arbitration Center (PAC) announced reaching an agreement to collaborate with the Arbitration and Conciliation Center of the Commercial Defense League of Uruguay that aims to strengthen Alternative Dispute Resolution (ADR), and to enhance international exposure and create regional opportunities for direct foreign investment originating from South America.

“I am thrilled to see more organizations collaborating with the PAC to strengthen ADR methods in Latin America. This partnership will undoubtedly benefit both countries and pave the way for more efficient dispute resolution in the future.” said PAC Appellate Arbiter John Pelander, former Arizona (USA) Supreme Court Justice.

PAC Chief Legal Officer and Honduran Notary Leonidas Rosa further explained, “This MOU is a great step forward for both countries, and I look forward to seeing the positive impact it will have, in the Próspera Special Economic Zone in Honduras, Uruguay, and also Latin America.”

The Memorandum of Understanding between the PAC and CMyA LIDECO commits both organizations to jointly promote the use of ADR to resolve disputes in their respective jurisdictions and through this method to ultimately strengthen direct foreign investment originating from South America.

"We are confident that this partnership will bolster our endeavors in the realm of arbitration and conciliation, enabling us to deliver an enhanced level of service to our valued clients." observed PAC Interim CEO and Honduran Attorney Alberto Hernandez Franks.

More specifically, the agreement promises that the two arbitration centers will:

  • Carry out training programs and exchange of ideas and opinions aimed at the staff of each one. Through this collaboration, we hope to improve our skills and knowledge in the field of arbitration and conciliation in both Honduras and Uruguay;
  • Jointly explore additional areas of collaboration, which could include the co-organization of conferences, seminars, and workshops on international arbitration in both Honduras and Uruguay. We also hope to invite key members of our respective arbitration communities to attend and participate in the main events organized by both institutions.

“This MOU is a significant step in right direction, and I commend both organizations for their efforts. We look forward to working together with the CMyA LIDECO,” said PAC Senior Arbiter John Gemmill, former Chief Judge, Arizona (USA) Court of Appeals.

For more information, please contact:

Prospera Arbitration Center

T: +504 9486 8057