Ruling in Costa Rica Case Marks 41st Consecutive Favorable Result for Sovereign States by Arnold & Porter's International Arbitration Team
Arnold & Porter’s International Arbitration team has successfully defended the Republic of Costa Rica against a $400 million claim in the Infinito Gold v. Costa Rica ICSID arbitration, which involved a dispute relating to a gold mine project. This marks Arnold & Porter's 41st consecutive positive result on behalf of sovereign States in investment arbitrations.
In its award, issued on June 4, 2021, the Tribunal concluded that the claimant was not entitled to any compensation and had to bear its own costs incurred in the arbitration.
The Arnold & Porter team that represented Costa Rica featured partners Paolo Di Rosa, Patricio Grané Labat and Dmitri Evseev, as well as senior associate Timothy Smyth and associates Cristina Arizmendi and Alexander Witt.