Colombia, Counterclaims, Investment Arbitration, Latin America, Police Powers, Treaty Interpretation
Naturgy v. Colombia: Considerations on Police Powers and a Setback from Urbaser?
On 12 March 2021, a tribunal issued an award in the case of Naturgy v. Colombia (ICSID Case No. UNCT/18/1) under the Colombia-Spain BIT (2005) (the “BIT”). The decision is the first in a wave of four decisions decided in the first half of 2021 in favor of Colombia. Naturgy is noteworthy for its engagement…