Costa Rica and the Kingdom of the Netherlands v. Republic of Panama


A Hogan Lovells team from the firm’s Miami and Madrid offices successfully represented the Republic of Panama in an investment arbitration pending before the International Centre for the Settlement of Investment Disputes (ICSID).

The arbitration was initiated over three years ago by investors from Costa Rica and the Kingdom of the Netherlands against the Republic of Panama.

Facing a February 11 deadline, Claimants failed to seek an annulment of the 12 October 2018 award, which dismissed the totality of Claimants’ claims against the Republic of Panama. With the award now final and binding, the decision sets important jurisdictional precedent in international investment arbitration terms, and vindicated the Republic of Panama from what it perceived to be a specious claim.

The Hogan Lovells international arbitration team representing the Republic of Panama included partners Daniel E. González (Picture), Richard C. Lorenzo, and María Eugenia Ramirez, counsel Juan C. García, senior associate Javier Peral, and Juliana de Valdenebro and Yine Rodríguez in Miami, and senior associate Silvia Martínez in Madrid.

Involved fees earner: Juan Garcia – Hogan Lovells; Daniel González – Hogan Lovells; Richard Lorenzo – Hogan Lovells; Silvia Martínez – Hogan Lovells; Javier Peral II – Hogan Lovells; Maria Eugenia Ramirez – Hogan Lovells; Yine Rodríguez Pérez – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Republic Of Panama;

Author: Ambrogio Visconti