Costa Rica has long been heralded as a beacon of political, social and economic stability in the Americas. Its respect for the rule of law, coupled with a strong commitment to the peaceful resolution of disputes, has allowed it to develop a strong practice of alternative dispute resolution. The arbitration law adopted in 1998 (the…
On 29 June 2022, an ICSID Tribunal composed of Alexis Mourre, Luis González García and Adolfo Jiménez issued its Final Award in the case brought by Alejandro Diego Díaz Gaspar, a Spanish national, against Costa Rica. The majority of the Tribunal ultimately found minor breaches of the underlying Costa Rica-Spain Bilateral Investment Treaty (the “Treaty”)…
On February 28, 2021, the First Chamber of the Costa Rican Supreme Court (“the Court”) confirmed a US$ 23 million ICC award won by Panama-registered Hidroeléctrica San Lorenzo S.A. against Saret de Costa Rica S.A. When it comes to the recognition and enforcement of foreign arbitral awards, Costa Rica is party to relevant international conventions,…
