Court Study Undercuts Odebrecht Bid to Recover Colombian Capital
- Setback in bid to recoup money from scandal-hit road project
- Odebrecht’s partner Aval says new study contains errors
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An attempt by Odebrecht SA and Grupo Aval SA to recoup hundreds of millions of dollars from a scandal-hit highway suffered a setback from a new study that suggests the builders may owe money to Colombia, rather than vice versa.
A 336-page study commissioned by the arbitration court overseeing the case found that Colombia’s infrastructure agency has a balance in its favor of about $1.8 billion, once the costs to the nation of completing the highway are taken into account.