Arbitral Digest

Matter

Glencore International A.G., C. I. Prodeco S.A., and Sociedad Portuaria Puerto Nuevo S.A. v. Republic of Colombia (ICSID Case No. ARB/19/22)

Case no.
ARB/19/22
Applicable rules
ICSID Arbitration Rules (10 April 2006)
  1. 19 April 2024Arbitration

    19 April 2024Arbitration

    Award dated 19 April 2024

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal dismissed Colombia's jurisdictional objections, declared that Colombia's failure to resolve the Access Channel issue was arbitrary and discriminatory in breach of the fair and equitable treatment standard under Article 4(2) of the Treaty, and ordered Colombia to compensate the Claimants US$9.4 million plus simple interest at 5.6% from the date of the Award until payment. The amount awarded was to be net of Colombian taxes, and Colombia was ordered to indemnify the Claimants for Colombian taxes imposed on it. The Parties were ordered to share the administrative costs and expenses of the arbitration equally, with each Party bearing its own costs and expenses. All other claims, objections, and defenses were dismissed.

    Supporting details

    2 authorities · 27 participants
    Glencore International A.G.
    Representative
    Nigel Blackaby (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Representative
    Caroline S. Richard (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Representative
    Juan Pomes (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    C. I. Prodeco S.A.
    Representative
    Nigel Blackaby (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Representative
    Caroline S. Richard (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Representative
    Juan Pomes (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Sociedad Portuaria Puerto Nuevo S.A.
    Representative
    Nigel Blackaby (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Representative
    Caroline S. Richard (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Representative
    Juan Pomes (For: Glencore International A.G. · C. I. Prodeco S.A. · Sociedad Portuaria Puerto Nuevo S.A.)
    Republic of Colombia
    Representative
    Nicolas Cordoba (For: Republic of Colombia)
    Representative
    Rosario Galardi (For: Republic of Colombia)
    Representative
    Joseph Spadafore (For: Republic of Colombia)
    Representative
    Gustavo Topalian (For: Republic of Colombia)
    Representative
    Jose Manuel Alvarez Zarate (For: Republic of Colombia)
    Representative
    Eduardo Silva Romero (For: Republic of Colombia)
    Representative
    Jose Manuel Garcia Represa (For: Republic of Colombia)
    Representative
    Catalina Echeverri Gallego (For: Republic of Colombia)
    Representative
    Javier Echeverri Diaz (For: Republic of Colombia)
    Representative
    Ruxandra Irina Esanu (For: Republic of Colombia)
    Representative
    Ana Maria Duran (For: Republic of Colombia)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Daniel M. Price
    Tribunal secretary
    Alicia Martin Blanco
    Other
    Expert
    Min Shi

    Authorities cited

    2
    • Case Concerning the Factory at Chorzow
      case-law
    • Glencore International and C. I. Prodeco v. Colombia
      case-law

Matter record

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Glencore International A.G., C. I. Prodeco S.A., and Sociedad Portuaria Puerto Nuevo S.A. v. Republic of Colombia (ICSID Case No. ARB/19/22) · Matter