Víctor Pey Casado and President Allende Foundation v Republic of Chile : Layers of Preclusion

In a Decision dated 8 January 2020, the ad hoc Committee in Víctor Pey Casado and President Allende Foundation v Republic of Chile decided in favour of the Respondent by declining to annul a 2016 Award—the second in the dispute. The decision is remarkable, not just because it serves as the final chapter in the longest-running ICSID dispute to date, but also because it illustrates the many difficulties that may arise from the application of the principle of res judicata in resubmission proceedings. This case comment focuses on the Committee’s application of res judicata: to this end, it succinctly reviews the background to the dispute (Section II), addresses the decision of the Committee (Section III) as well as the Separate Opinion (Section IV), and comments on the Tribunal’s application of the doctrine and its potential implications for future cases (Section V)