Investors say Colombia can’t cite security in $309m Nix deal

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By Caleb Symons (May 24, 2022, 6:45 p.m. EDT) – A group of American investors says Colombia cannot use a law aimed at separating the country’s economy from narcotics trafficking to avoid compensating them for a development real estate she seized five years ago.

In a brief released on Monday, the investors claimed the South American nation’s attempt to evade their $309 million arbitration suit “fundamentally misinterprets” their claim for relief, which they say does not threaten the power of Colombian authorities to seize assets linked to criminal activities.

But the U.S.-Colombia Trade Promotion Agreement nonetheless does not protect Colombia from financial liability for the misuse of this law – a separate and sovereign measure – according to…

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