Arbitral Award declaring that Construções e Comércio Camargo Corrêa S.A., Camargo Corrêa Infra Ltda., Constructora Conconcreto S.A., and Coninsa Ramón H. S.A. bore no liability for the collapse of the Auxiliary Diversion Gallery of the Ituango Hydroelectric Project. This award is subject to requests for clarification or supplementation.
Case Details:
In January 2021, EPM filed a lawsuit before the Administrative Tribunal of Antioquia against the construction companies, members of the Consorcio CCC Ituango, claiming approximately USD 2,500,000,000 in damages resulting from the collapse of the Auxiliary Diversion Gallery (ADG) of the Ituango Hydroelectric Project.
Given that the parties had entered into an arbitration agreement, the Consorcio CCC Ituango initiated international arbitration proceedings seeking a declaration that it was not liable for the collapse of the ADG.
The Arbitral Tribunal declared that Consorcio CCC Ituango bore no liability for the collapse. Further, the Tribunal ordered EPM to pay approximately USD 16,250,000 in an economic incentive agreed upon in the construction contract for the accelerated execution of the works.
Legal Advisors:
COUNSEL TO CCC ITUANGO CONSORTIUM
Posse Herrera Ruiz
Leading Partner(s): Daniel Posse and Carolina Posada
Other Lawyers: Daniela Corchuelo and Camila Castaño
JVB Abogados
Leading Partner(s)
José Vicente Blanco and Daniel Cuartas
Other Lawyers
Sara Bustamante
Londoño & Arango
Leading Partner(s)
Daniel Arango and Maximiliano Londoño
