Global Legal Chronicle | 22 January 2020
Victor Pey Casado and President Allende Foundation v. Republic of Chile
by Ambrogio Visconti
Arnold & Porter secured two major victories for the Republic of Chile, obtaining back-to-back wins in parallel arbitrations in the longstanding and high-profile Pey Casado dispute.
On December 4, 2019, a tribunal in an investment arbitration filed under the UNCITRAL Rules dismissed a claim of more than US$400 million against Chile, in addition ordering the claimants to reimburse Chile for the totality of its arbitral costs and most of its legal fees and expenses. More recently, on January 8, 2020, an arbitral panel in a parallel arbitration filed in 1997 by the same claimants at the World Bank-affiliated International Centre for Settlement of Investment Disputes (ICSID) rendered an annulment decision in Chile’s favor, thereby definitively ending the case (which, at 22 years, was the longest-running in ICSID history).
The Arnold & Porter team in the two Chile cases included partners Paolo Di Rosa (Picture), Gaela Gehring Flores, and Mallory Silberman, and associates Caroline Kelly, Katelyn Horne, Mateo Morris, Sally Pei, and Michael Rodríguez.