Arnold & Porter's International Arbitration group has secured a sixth straight win for Costa Rica, bolstering the firm's 98.2% success rate in investment arbitration cases on behalf of sovereign States.
The firm's industry-leading track record currently stands at 56 positive results out of 57 awards or final decisions.
In this latest matter, Arnold & Porter successfully defended the Republic of Costa Rica in a second claim brought by José Alejandro Hernández Contreras (claimant) arising out of the non-renewal by Costa Rica's electricity regulator of a contract with his local telecommunications company. The claimant sought $25 million.
In March 2025, the arbitration was terminated pursuant to Costa Rica's request based on ICSID Additional Facility Rule 63(6) and over the claimant's objection. Costa Rica pointed out the deficiencies in the security for costs that the claimant had offered. The majority of the Tribunal agreed with Costa Rica and terminated the proceeding. This case is the first reported dismissal under Rule 63(6).
The international Arnold & Porter team was led by partner Patricio Grané Labat (London) and included senior associates Sebastián Canon Urrutia and Ernesto Hernández, associate Ana Sofia Pirnia, foreign associate Agustin Hubner, and legal consultant Natalia Giraldo Carrillo.