Arbitral Digest

Matter

Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia (ICSID Case No. ARB/16/6)

Case no.
ARB/16/6
Applicable rules
ICSID Arbitration Rules in force as of April 2006
  1. 27 August 2019Arbitration

    27 August 2019Arbitration

    Award dated 27 August 2019

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal held that it had jurisdiction, found that Glencore and Prodeco were victims of an unreasonable measure contrary to Article 4(1) of the BIT and unfair and inequitable treatment contrary to Article 4(2), and ordered Colombia to restore USD 19,100,000 plus costs of USD 625,000 and defence expenses of USD 1,692,900.

    Supporting details

    1 authority · 3 participants
    Glencore International A.G.
    C.I. Prodeco S.A.
    Republic of Colombia
    International Centre for Settlement of Investment Disputes

    Authorities cited

    1
    • Agreement between the Swiss Confederation and the Republic of Colombia on the Promotion and Reciprocal Protection of Investments, signed 17 May 2006, entered into force 6 October 2009
      treaty

    8 months and 1 day later · 245 days

  2. 28 April 2020Arbitration

    28 April 2020Arbitration

    Procedural Order No. 1

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee established the procedural framework for the annulment proceeding, including the applicable ICSID Arbitration Rules, representation, advances on costs, place and languages of the proceeding, written filings, hearings, and the stay of enforcement.

    Supporting details

    2 authorities · 7 participants
    Glencore International A.G.
    C.I. Prodeco S.A.
    Republic of Colombia
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Doug Jones
    Tribunal secretary
    Alicia Martin Blanco

    Authorities cited

    2
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States dated 18 March 1965
      convention
    • ICSID Rules of Procedure for Arbitration Proceedings 2006
      rules

    6 months and 5 days later · 188 days

  3. 2 November 2020Arbitration

    2 November 2020Arbitration

    Procedural Order No. 2 on the Organization of the Hearing

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee organized the 6 November 2020 annulment hearing by videoconference, addressing the schedule, electronic hearing bundle, document presentation, recording, transcription, interpretation, post-hearing submissions, the closed hearing, and virtual hearing arrangements.

    Supporting details

    1 authority · 7 participants
    Glencore International A.G.
    C.I. Prodeco S.A.
    Republic of Colombia
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Doug Jones
    Tribunal secretary
    Alicia Martin Blanco

    Authorities cited

    1
    • ICSID Rules of Procedure for Arbitration Proceedings 2006
      rules

    10 months and 20 days later · 324 days

  4. 22 September 2021Arbitration

    22 September 2021Arbitration

    Decision on Annulment

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee dismissed Colombia's application for annulment of the 27 August 2019 Award in its entirety. The stay of enforcement terminated; Colombia was ordered to bear the proceeding costs of USD 272,584.51 and to pay Glencore and Prodeco USD 1,000,000.00 for representation costs and expenses.

    Supporting details

    3 authorities · 7 participants
    Glencore International A.G.
    C.I. Prodeco S.A.
    Republic of Colombia
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Doug Jones
    Tribunal secretary
    Alicia Martin Blanco

    Authorities cited

    3
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States dated 18 March 1965
      convention
    • ICSID Rules of Procedure for Arbitration Proceedings 2006
      rules
    • Agreement between the Swiss Confederation and the Republic of Colombia on the Promotion and Reciprocal Protection of Investments, signed 17 May 2006, entered into force 6 October 2009
      treaty

Matter record

Report a correction

Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia (ICSID Case No. ARB/16/6) · Matter