Morales & Besa advises Hydrochile S.A. in arbitration proceeding Hidroeléctrica El Paso w. Acciona Infraestructuras S.A., Agencia en Chile

Morales & Besa represented Hidroeléctrica El Paso -a subsidiary of Eton Park and the German Development bank DEG (Deutsche Investitions und Entwicklungsgesellschaft mbH)- in its damages claim against Acciona Infraestructuras, part of the Spanish conglomerate Grupo Acciona, in order to obtain an US$ 80 million indemnification as a consequence of the latter’s breach of the Construction Agreement entered into by them regarding the construction of a hydroelectric power plant. Simultaneously, Acciona Infraestructuras filed a US$ 28 million damages claim against Hidroeléctrica El Paso. The arbitrator, Mr. Juan Carlos Dörr, awarded US$ 15 million, plus interest to Hidroeléctrica El Paso and US$ 5,7 million to Acciona Infraestructuras, which filed a request for annulment of the award before the Santiago Court of Appeals.

The team at Morales & Besa was led by Partner Gonzalo Cordero with Senior Associates Orlando Palominos and Juan Ignacio Eymin and Associate Nicolás Corbeaux.