Arnold & Porter Achieves Arbitration Win with Panama Canal Expansion Award

Arnold & Porter recently secured a favorable award for the Republic of Panama (Panama) in an arbitration initiated by Spain-based Sacyr SA (Sacyr) related to the expansion of the Panama Canal.

The investment arbitration, initiated in 2018, alleged that Panama had violated the Panama-Spain Bilateral Investment Treaty during the bid process and subsequent execution of a project that formed part of the Panama Canal expansion.

On October 31, an UNCITRAL seated tribunal rejected all of Sacyr’s claims on the merits and ordered Sacyr to pay Panama costs of the proceedings totaling nearly $6.4 million.

The Arnold & Porter team included partners Mélida Hodgson and Whitney Debevoise, senior associates Sebastián Canon Urrutia and Ernesto Hernández, and associate Ana Sofia Pirnia.