Publish in Special Reports - Wednesday, August 28, 2019
The Calenturitas mine in Colombia. Glencore sued Colombia over a $19 million fine related to the mine. (Photo: Prodeco)
Nigel Blackaby (global co-head of Freshfields' international arbitration group and co-head of the Latin America group) and Eduardo Silva Romero (co-Chair of Dechert's International Arbitration global practice). (Latinvex collage)
Glencore wins $19 million award related to Calenturitas mine.
BY JOACHIM BAMRUD
After three years, The World Bank’s International Center for Settlement of Investment Disputes (ICSID) ruled that Colombia had to pay back a $19.1 million fine to Swiss-based mining and trading company Glencore in a case where both parties claimed victories. .
Dechert advised Colombia, while Glencore was represented by Freshfields and Colombian law firm Álvarez Zárate & Asociados.
It is the first ruling by ICSID in a Colombian case involving investment treaties. Glencore sued Colombia under the Swiss-Colombian bilateral investment treaty.
The dispute arose ...
Keywords: Arbitration & Litigation, Colombia, Dechert, Freshfields, Glencore, ICSID, Mining, Prodeco
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