Bolivia’s Attorney General announced that the Permanent Court of Arbitration ruled in favour of the country by denying any compensation to US-based Orlandini Mining Company in, Attorney César Siles said that the tribunal upheld Bolivia’s defence and rejected the plaintiffs’ claims, thus saving the Andean nation about $500 million in damages.
However, in the case of the Orlandini Mining Company, the court ruled that Bolivia hadn’t violated the 2001 investment treaty between the Government of the United States of America and the Government of the Republic of Bolivia concerning the Encouragement and Reciprocal Protection of Investment when it reversed the firm’s mining concessions dating back to the 1980s.
Siles pointed out that his government will probably have to bear half of the costs of litigation, established at $600,000. He also noted that, in compliance with the principle of confidentiality, the complete content of the arbitration award, which does not differ from the substantive decision, will be shared with the parties at a later time.
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