Region: Colombia
McDermott completes write-off of billion-dollar award
Houston-based engineering multinational McDermott has completed a cross-border restructuring process that has cancelled a US$1.3 billion ICC award debt in exchange for an equity stake in the group.
27 March 2024
Colombia mining award sheds light on tribunal split
An ICSID tribunal that rejected a US$130 million claim against Colombia over a ban on mining in environmentally protected zones was divided over whether the state violated the investor’s legitimate expectations, a newly published award confirms.
12 March 2024
Texan oil company reports win in Colombian dispute
A Texas-headquartered oil and gas exploration and production company says it has defeated a US$30 million ICDR claim brought over the exploration of hydrocarbons in Colombia.
04 March 2024
Colombia defeats ICSID claim over environmental measures
AWARD NOW PUBLIC: Colombia has defeated a closely-watched ICSID claim worth US$130 million brought by a Canadian company over a ban on mining operations in environmentally protected wetlands.
29 February 2024
Billion-dollar award debt written off in UK restructuring
A UK court has approved a restructuring plan for a subsidiary of Houston-based construction group McDermott that will effectively extinguish a US$1.3 billion ICC award debt owed to a Colombian state-owned entity.
28 February 2024
Highway investor lodges claim against Colombia
The infrastructure arm of UK private equity firm InfraRed Capital has brought a treaty claim against Colombia over a highway construction project.
26 January 2024
Uría Menéndez and PPU promote in Madrid and Bogotá
Uría Menéndez has promoted Heidi López to partner in Madrid, while its Latin American affiliate Philippi Prietocarrizosa Ferrero DU & Uría has promoted Juan Sebastián Arias to its partnership in Bogotá.
23 January 2024
Chinese miner brings claim against Colombia
A Chinese group has reportedly filed for arbitration against Colombia over the state’s alleged failure to protect a gold mine from attacks by illegal miners.
24 November 2023
Canadian miner secures funding for treaty claim against Colombia
A Canadian mining company says it has secured funding for its investment treaty claim against Colombia – which it said risked being discontinued over a failure to pay costs.
10 November 2023
Sunken treasure saga leads to mega-claim against Colombia
A US company is pursuing a US$10 billion investment treaty claim against Colombia over treasure in the wreck of a Spanish galleon that sank off the coast of Cartagena more than three hundred years ago.
14 September 2023