On 22 September 2021, the ICSID ad hoc committee in Glencore and Prodeco v Columbia delivered its ‘Decision on Annulment.’
The award that was the subject of the annulment application held that Glencore and Prodeco had been the victims of an unreasonable measure and had been subjected to unfair and inequitable treatment contrary to the Swiss-Columbia BIT. The Tribunal ordered Colombia to pay Glencore and Prodeco the sum of USD 19,100,000 plus costs of USD 625,000 and defence expenses of USD 1,692,900.
