Arnold & Porter Obtains ICSID Victory for the Republic of Chile in ICSID's Longest-Running Arbitration
WASHINGTON, DC, September 16, 2016 -- Arnold & Porter LLP has successfully represented the Republic of Chile in the longest-running arbitration in ICSID history, Victor Pey Casado and President Allende Foundation v. Republic of Chile (ICSID Case No. ARB/98/2), and one of the highest-profile international disputes in Chilean history. On September 13, 2016, the arbitral tribunal issued a final and complete decision in favor of the firm's client, in which it not only unanimously dismissed all of the Claimants' claims (which had amounted to $340 million), but also imposed on the Claimants the obligation to reimburse Chile for part of the costs of the proceeding. The case related to the expropriation of a newspaper enterprise during the coup d'etat that toppled then-Chilean President Salvador Allende. The Award in this arbitration is the firm's 25th consecutive positive ruling on behalf of sovereign States in investment arbitrations, over a span of 15 years. Arnold & Porter's legal team was led by Paolo Di Rosa and included Gaela Gehring Flores, Mallory Silberman, Samuel Witten, Amy Endicott, Brian Bombassaro, José Antonio Rivas, Alejandra Parra-Orlandoni, Natalia Giraldo-Carrillo, and Kelby Ballena.