Region: Latin America & Caribbean

An ICSID annulment committee has upheld an award that ordered Venezuela to pay around US$9 billion to ConocoPhillips over the expropriation of three oil projects. 

23 January 2025

A Spanish-owned healthcare group has launched an ICSID claim against Colombia reportedly worth US$1.2 billion over the alleged expropriation of an insurance business. 

22 January 2025

Argentina is appealing a US court’s decision to enforce a US$391 million ICSID award over the nationalisation of two airlines – despite earlier reports suggesting the state did not oppose enforcement.

20 January 2025

Calvin Hamilton, who died late last year aged 72, was a Guyanese-born practitioner who worked for nearly 30 years in Madrid and became a key figure in international arbitration in Spain, Latin America and the Caribbean.

15 January 2025

UPDATED: Colombia is apparently facing a second treaty claim relating to a sunken 18th-century Spanish galleon full of treasure, as the Democratic Republic of the Congo is hit with an ICSID claim over a mining concession. 

14 January 2025

A US court has confirmed an ICC award worth US$1.3 billion in favour of a Colombian state-owned entity over an oil refinery project, aiding its pursuit of recovery from insurers.  

14 January 2025

Brazil’s state-run oil and gas company Petrobras says it has defeated another arbitration brought by foreign shareholders in the wake of the Lava Jato corruption scandal.

13 January 2025

Venezuela has applied to ICSID to annul a US$470 million award in favour of a Dublin-based paper packaging company, in which a tribunal majority found it had jurisdiction even though the claim was filed after the state withdrew from the ICSID Convention.

10 January 2025

A Canadian paper group has filed a new ICC arbitration worth US$3 billion against companies controlled by Brazil’s Batista brothers over their alleged failure to comply with an earlier award mandating the sale of a pulp producer. 

09 January 2025

The holder of a concession for a Chilean hospital project has launched a fresh action in the US to enforce a US$146 million award against Italy’s Webuild – months after a court in Delaware refused to confirm the award. 

09 January 2025