Colombia Win Marks 40th Consecutive Favorable Result for Sovereign States Obtained by Arnold & Porter
Arnold & Porter’s International Arbitration team has successfully defended the Republic of Colombia against a $323 million claim in the Alberto Carrizosa Gelzis, Felipe Carrizosa Gelzis, and Enrique Carrizosa Gelzis v. Republic of Colombia international arbitration, filed under the US-Colombia Trade Promotion Agreement. This marks Arnold & Porter's 40th consecutive positive result on behalf of sovereign States in investment arbitrations.
In the award, issued on May 7, 2021 the tribunal at the Permanent Court of Arbitration (PCA) dismissed the case for lack of jurisdiction. The tribunal also ordered the claimants to pay 100% of the arbitration costs and to pay the Republic of Colombia 98% of legal fees and costs incurred in connection with the arbitration.
The dismissal by the PCA tribunal of the claims by the Carrizosa family follows the award issued on April 19, 2021 in a separate arbitration at ICSID, in which the tribunal similarly dismissed all of the claims filed by another member of the Carrizosa family, Astrida Benita Carrizosa, and also issued an award of costs and legal fees in favor of Colombia.
The Arnold & Porter team that represented Colombia in both cases featured partners Paolo Di Rosa and Patricio Grané Labat, as well as associates Katelyn Horne, Brian Vaca and Cristina Arizmendi.