ICSID Orders Bolivia To Pay Investors $48M For BIT Breaches
(October 6, 2015, 10:09 AM EDT) -- WASHINGTON, D.C. — After finding that the Plurinational State of Bolivia breached a bilateral investment treaty (BIT) when it expropriated an investment made by a Chilean corporation and a Bolivian mining company, a tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on Sept. 16 awarded the claimants $48,619,578 in damages, plus costs and interests (Quiborax S.A., et al. v. Plurinational State of Bolivia, ARB/06/02, ICSID).
(Award available. Document #05-151027-013A.)
In October 2005, Quiborax S.A., Non Metallic Minerals (NMM) and Allan Fosk Kaplún...