Chilean Court Overturns $300m Arbitration Award Against Former Australis Owner
5 Articles
5 Articles
Court Annuls Ruling Forcing Chilean Businessman to Pay US$300 Million to Chinese Group for Australis
The Court of Appeals of Santiago completely overturned one of the biggest business fights of recent years in Chile. The court overturned the ruling of an arbitration that had favored the Chinese Joyvio group in its million-dollar dispute against the Chilean businessman Isidoro Quiroga and the former owners of the Salmonera Australis Seafoods. In a split ruling, the First Chamber of the Court agreed with Quiroga’s defense and reversed the payment…
The last chapter of the Australis case was won by the Chilean businessman Isidoro Quiroga. In his dispute with the Chinese Joyvio for the sale of the Salmonera Australis, in US$ 921 million, carried out in 2019, Quiroga obtained this week a key ruling, issued by the first chamber of the Court of Appeals of Santiago.The Asian giant had appealed to an arbitral tribunal that gave him the reason and sentenced in August last year Quiroga to compensat…
In a divided decision, the First Chamber of the High Court accepted the appeal for annulment filed by the Chilean businessman’s defense, establishing that the arbitral tribunal exceeded its powers in deciding on an action that was not debated by the parties. The decision renders ineffective the million-dollar compensation in favour of the Chinese giant Joyvio. The First Chamber of the Santiago Court of Appeal issued a high-impact judgment for th…
First Chamber of the court of elzada annulled the arbitral judgment that ordered the partial refund of the price paid by the plaintiffs in the framework of the contract for the sale of shares of the salmon company Australis Seafoods SA, acquired in February 2019. The Court of Appeals of Santiago overturned the arbitral judgment that ordered the partial refund of the price paid by the plaintiffs in the framework of the contract for the sale of sh…
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