On December 19, 2013 a Compass Lexecon team, with Manuel Abdala and Marcelo Schoeters as experts, successfully assisted the Republic of Guatemala to defend against a US$243.6 million investment treaty claim by TECO Guatemala Holdings LLC, a subsidiary of Florida-based energy company TECO Energy. The dispute involved Guatemala’s alleged undue regulatory process leading to low electricity distribution tariffs on its subsidiary EEGSA during the 2008- 2013 regulatory cycle. TECO held a 24% equity stake in EEGSA, but in late 2010, just prior to commencing arbitration, sold its EEGSA shares to a third-party investor for an estimated amount of US$120 million. TECO’s valuation expert assessed damages at US$243.6 million. The Tribunal found Guatemala liable, but based on testimony from Compass Lexecon’s experts, limited damages to US$21.1 million. The Compass Lexecon team included Julian Delamer, Alan Rozenberg and Daniela Repetto. Compass Lexecon’s experts were retained by Freshfields Bruckhaus Deringer LLP.