Ruling in Favor of Alianza Manzanillo in Complex Arbitration process

Posse Herrera Ruiz, DLA Piper Martinez Beltrán, Núñez & Abogados and Durán & Osorio advised on the dispute

Posse Herrera Ruiz has acted as legal advisor to Alianza Fiduciaria and the Manzanillo del Mar Trust in a complex arbitration tribunal that had 7 claims in total, divided into multiple parts in which the companies Best Luck S.A., Aktani S.A.S., Fedco S.A., Inversiones Eliat S.A.S. as well as Carlos Pio Uribe Palacio, Antonio Botero and Yadira Botero were involved.

The lawsuit concerned (i) the contribution of 136.8 hectares of land in the city of Cartagena, valued in the process for USD96 million dollars and situated close to important real estate and tourist developments such as Serena del Mar and Karibana, and (ii) the eventual urban development of these sites. On one side, some claimants sought the resolution or termination of the fiduciary contract, together with the restitution of the sites and in the event of not being able to restore the totality of the land the economic payment of the areas lost (a sum close to USD49 million dollars). On the other, other claimants sought to declare breach of the contract and order compliance with the fiduciary contract and the payment of the indemnification for the non-development of the project for a sum close to USD3.6 million dollars. In the arbitral award all claims against Alianza were denied, the termination of the contract was decreed and the Alliance claims were granted in connection with the settlement rules of the trust

Alianza Fiduciaria is an independent administrator of Collective Investment Funds.

Posse Herrera Ruiz advised Alianza Fiduciaria and Manzanillo del Mar Trust with Daniel Posse (Picture) and Pedro Álvarez.

DLA Piper Martinez Beltrán advised Best Luck with Néstor Camilo Martínez, Julián Solorza and David Benítez

Núñez & Abogados advised Constituents Trustors (Aktani, Fedco, Inversiones Eliat and Carlos Pio Uribe) with Partner Roberto Núñez, Adriana Cárdenas and Lorena Mateus.

Durán & Osorio advised Botero’s Family with Camilo Forero and Francisco Gnecco.

Involved fees earner: Camilo Forero – Duran & Osorio; Francisco Gnecco – Duran & Osorio; Néstor Camilo Martínez – DLA Piper Martínez Beltrán; Julián Solorza – DLA Piper Martínez Beltrán; David Felipe Benítez – DLA Piper Martínez Beltrán; Daniel Posse – Posse Herrera Ruiz; Pedro Miguel Alvarez – Posse Herrera Ruiz;

Law Firms: Duran & Osorio; DLA Piper Martínez Beltrán; Posse Herrera Ruiz;

Clients: Alianza Fiduciaria S.A.; Manzanillo del Mar Trust ; Best Luck S.A.; Antonio Botero; Yadira Botero ;


Author: Ambrogio Visconti.