The food corporatión CORALSA (Corporacion Alimentaria SA) of Cuba was released from the lawsuit filed by the Chilean company Ingelco.
According to the information, this occurred after the Court of Appeal of Paris upheld the action for annulment brought by the corporation of the island and repealed the two awards rendered by the arbitral tribunal.
Thus, with this fair and attached to the applicable law, which is Cuba’s decision, Coralsa was exempted from all claims and ended the action unfounded Ingelco.
From August 2011 to July 2013, Coralsa became embroiled in a dispute before the International Court of Arbitration of the International Chamber of Commerce, based in Paris, before a lawsuit filed by Ingelco.
The Chilean company was a foreign partner for joint venture Rio Zaza, which had operated under judicial criminal acts committed by its officers, both Cubans and foreigners, and the government bodies themselves of the corporation.
In the context of this case, in 2012, the arbitral tribunal had jurisdiction and issued by majority indicating a partial award Coralsa some guidelines which could not meet because of the receivership.
On that occasion, the president of Ingelco, Max Marambio, made public statements about an alleged victory at the Paris Court before which claimed $ 165 million, a fact which led to believe many entrepreneurs who have business relationships with Coralsa that the Cuban corporation had borrowed that amount.
In July 2013, the court granted, also by majority declaring the final award with the suit and ordered to pay Ingelco $ 17.5 million.
Immediately Coralsa submitted to the Court of Appeal of Paris, an action for annulment, only legal action brought against arbitral awards.
The basis of the complaint was based on imperative grounds of Cuban law present throughout the criminal process occurred in Rio Zaza and, therefore, the lack of powers of the arbitral tribunal to meet demand, because of the materials resulting inarbitrable and is only responsibility of the Cuban courts.
Based on these foundations the Court of Appeal upheld the action for annulment brought by the corporation of the island and repealed the two awards rendered by the arbitral tribunal.
(Prensa Latina)