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ICSID Tribunal declares AFC Investment Solutions' claim against Colombia “Manifestly without Legal Merit” because it was filed late

Photo by Towfiqu barbhuiya / Unsplash

In AFC Investment Solutions S.L. v. Republic of Colombia (ICSID Case No. ARB/20/16) an ICSID Tribunal found that AFC's claim – submitted after the three-year deadline found in Article 10(5) of the Agreement between the Kingdom of Spain and the Republic of Colombia for the Promotion and Reciprocal Protection of Investments (APPRI) – manifestly lacked legal merit under Rule 41(5) of the ICSID Arbitration Rules.

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