GBS Disputes

Experience as Counsel includes representation of:

Investment arbitration

• The Republic of Colombia, Respondent in an UNCITRAL arbitration in London initiated by Sea Search-Armada LLC under the Colombia-U.S. Trade Promotion Agreement. The dispute concerns the Claimant’s alleged rights over a shipwreck off the coast of Cartagena. This is a highly visible dispute involving a request for compensation in the amount of USD 10 billion, also raising issues of national security.
• The Republic of Colombia in the proceedings initiated by Angel Samuel Seda and others before an ICSID Ad hoc Committee to seek the annulment of the award rendered in ICSID Case No. ARB/19/6. The dispute arose from allegations of expropriation of a real estate project seized in application of Colombia’s asset forfeiture law and claims in excess of USD 300 million were brought under the 2012 Colombia-U.S. Trade Promotion Agreement. In a landmark award, the Tribunal dismissed all claims, finding that the essential security interest clause in the Agreement invoked by Colombia applied and protected Colombia’s measures designed to fight narcotraffic and money laundering.
• The Republic of Peru, Respondent in an ICSID arbitration initiated by Bank of Nova Scotia (ICSID Case No. ARB/22/30), concerning a nearly 15-year long tax dispute relating to a tax claim by Peru’s tax authority. The claims are brought under the Canada-Peru Free Trade Agreement. Peru filed an application under ICSID Arbitration Rule 41, arguing that the Bank of Nova Scotia’s claims were manifestly without legal merit. The majority of the Arbitral Tribunal upheld most of these objections and dismissed the Bank of Nova Scotia’s claims for expropriation and violation of the minimum standard of Treatment. The arbitration proceeding will continue only in relation to the Bank of Nova Scotia’s national treatment claims.
• The Republic of Colombia, Respondent in an ICSID arbitration brought by Angel Samuel Seda and others (ICSID Case No. ARB/19/6). The dispute arose from allegations of expropriation of a real estate project seized in application of Colombia’s asset forfeiture law, and claims in excess of USD 300 million were brought under the 2012 Colombia-U.S. Trade Promotion Agreement (TPA). In a landmark victory for our client, the Tribunal dismissed all claims and found, for the first time in investment arbitration history, that the essential security interest clause in the TPA invoked by Colombia applied and protected Colombia’s measures designed to fight narcotraffic and money laundering.
• The Republic of Colombia, Respondent in an ICSID arbitration brought by engineering company CB&I UK concerning the measures adopted by various state entities in relation to the Claimant’s management of public funds in the context of the construction and modernization project of the Cartagena Refinery (Reficar) (ICSID Case No. ARB/22/11). The claims were brought under the Colombia-U.K. bilateral investment treaty. The claimant subsequently withdrew its claims.
• A leading Latin American company in the transportation sector in a dispute under a bilateral investment treaty against an Iberian State.
• EDF Energies Nouvelles in an UNCITRAL arbitration against the Kingdom of Spain under the Energy Charter Treaty. The dispute related to measures taken by Spain in the renewable energy sector.
• The Republic of Gabon, Respondent in an ICSID arbitration brought by Participaciones lnversiones Portuarias Sarl (ICSID Case No. ARB/08/17). The dispute, which was brought under the bilateral investment treaty between Gabon and the Belgium-Luxembourg Economic Union, arose out of a concession to manage two Gabonese ports.
• Caravelí Cotaruse Transmisora de Energía S.A.C. (CCTE), a Peruvian company, and its two Spanish shareholders, lsolux Corsàn Concesiones S.A. and Elecnor S.A., Claimants in two ICSID arbitrations in Washington against the Republic of Peru (ICSID Cases No. ARB/11/9 and ARB/12/5). The disputes related to concession agreements regarding electricity transmission lines in Peru.
• The Arab Republic of Egypt, Respondent in two investment arbitrations concerning alleged violations under the Egypt-Poland, Egypt-U.S. and the Egypt-Germany bilateral investment treaties relating to the performance of a long-term contract for the export of Egyptian natural gas to Israel. Around USD 2 billion was claimed. More than two thirds of the claims were dismissed on jurisdictional grounds and on the merits. Following these decisions, the parties reached a global settlement, under which all claims against our client were waived without our client being required to make any payment.
• SAUR International, a leading French service management company in the field of water, energy and cleanliness, Claimant in an ICSID arbitration against the Argentine Republic (ICSID Case No. ARB/04/4). The dispute arose out of violations by Argentina of investment treaty obligations owed to our client in relation to a water and sewer services concession in Argentina. The Tribunal held that Argentina had expropriated SAUR’s investment in the concession without compensation, awarded our client USD 59 million, and entered a significant costs award in favor of our client. We also successfully represented SAUR International in proceedings initiated by the Argentine Republic before an ICSID Ad hoc Committee to seek the annulment of the award obtained by our client.
• The majority shareholders in the former Yukos Oil Company, Claimants in a series of three UNCITRAL arbitrations in The Hague against the Russian Federation in relation to the expropriation of their investment in the company. The claims were brought under the Energy Charter Treaty. The Tribunal ordered the Russian Federation to pay over USD 50 billion in damages to our clients, the largest award ever rendered by an arbitral tribunal. The Tribunal also ordered the Respondent to reimburse our clients for 75% of the legal fees incurred in these proceedings, as well as 100% of the arbitration costs.
• The Republic of Panama in ICSID Proceedings commenced by the construction company Omega Engineering LLC and Oscar Rivera (ICSID Case No. ARB/16/42) for their alleged unfair treatment and non-payment for the construction of various building and facilities by the State.
• Preliminary advice and opinion to a company acquiring a partnership regarding the cancellation of a mining concession license in an African country and potential expropriation and corruption claims. The advice included consideration of the potential reinstatement of the license.

Commercial arbitration

• The Latin American subsidiary of an Asian telecommunications company in an arbitration initiated by a European electronic messaging services company under LCIA arbitration rules. English law applies, and the seat is London.
• A Latin American bank in an LCIA arbitration initiated by an international banking consulting firm. The dispute arose from an engagement agreement. English law applies.
• Two State-owned entities in a USD 6 billion ICC arbitration in Geneva and a USD 4 billion CRCICA arbitration in Cairo arising out of a long-term gas supply contract relating to the export of Egyptian gas to Israel. English law applied to both arbitrations. More than three quarters of the Claimants’ claims were dismissed for lack of jurisdiction or on the merits. Following these decisions, the parties reached a global settlement for less than 5 percent of the claim.
• Sonangol E.P., Respondent in an ICC arbitration in London initiated by a local subsidiary of U.S. oil company Cobalt International Energy. The dispute arose from a purchase and sale agreement related to concession rights in two deepwater oil blocks off the coast of Angola. The law of Angola applied and over USD 2.2 billion was at stake.
• Sonangol Pesquisa e Produção, Respondent in an ICC arbitration in Geneva initiated by a local subsidiary of U.S. oil company Cobalt International Energy. The dispute arose from a joint operating agreement concerning petroleum exploration and production operations in a deepwater oil block off the coast of Angola. English law applied.
• A Latin American aviation consultancy firm, Claimant in two ICC arbitrations initiated against European aircraft manufacturers. The disputes related to unpaid invoices and the damages arising from the termination of agency contracts. The arbitration also involved allegations of corruption in the context of global investigations carried out by the British SFO, the U.S. State Department and the French Parquet National Financier.
• A leading Central American energy generator company in an ICDR arbitration against another Central American company, regarding contractual breaches under a PPA and allegations of Force Majeure, Impossibility and Frustration of Purpose. New York law applied.
• The subsidiary of a major European oil company as Respondent in a IACAC arbitration in El Salvador against a Central American company. The dispute arose out of a contract for the supply, bottling and storage of liquefied petroleum gas (LPG) in El Salvador. The law of El Salvador applied and the proceedings were in Spanish. The parties reached a settlement agreement that was highly beneficial to our client.
• A European company, Respondent in an ICC dispute, relating to a farm-out agreement with a Latin American company. The Claimant withdrew its claim after our submission of the first memorial, achieving a complete victory for our client.
• A U.S. beer producer in an AAA arbitration against a Mexican company. The dispute concerned the Mexican company’s purchase option and its price. The matter was decided in favor of our client.
• A tobacco company in relation to a sponsorship contract of a motorcycle GP athlete. The Claimant’s claim was rejected in its entirety.

Litigation

• Abengoa, in litigation before the federal courts of Puerto Rico (Abengoa Puerto Rico, S.E. v. Autoridad Energia Electrica, 176 P.R. 512 (2009)). The litigation involved claims relating to the refurbishment of units of a power plant.
• Citibank, in litigation before the Southern District Court for the District of New York (Mayaguez S.A. v. Citigroup Inc. et al, No. 1:2016cv06788 (S.D.N.Y. 2018)). The dispute arose from dollar-Colombian peso hedging operations.

Experience as arbitrator

Ximena Herrera-Bernal has served as Presiding arbitrator, Sole arbitrator and co-arbitrator in international arbitration proceedings under the LCIA and ICC Arbitration Rules, and as member of an ICSID Ad hoc Committee. In March 2024, she was appointed by the Republic of Colombia to the ICSID Panel of Arbitrators.

Pro bono and other Public International Law experience

• Secondment at the Office of the Prosecutor of the International Criminal Tribunal of Rwanda (ICTR), working, inter alia, on the prosecution of genocidaires in connection with the killing of Prime Minister Agathe Uwilingiyimana and the Belgian Soldiers of the United Nations Peacekeeping Forces and various appeals commenced by convicted individuals.
• Coordination, supervision and drafting of a Report on the Use of Chemical Weapons by Siria in 2018 and violations of International Law Conventions commissioned by an NGO.
• Coordination and drafting of a Report of status of implementation of legislation against Modern Slavery in various countries, commissioned by an NGO.
• Advising Save the Children International in connection with litigation in Bolivia concerning certain Aid Agreements.
• Advising the Republic of Venezuela in the initial stages of its claim regarding the Esequibo Region and the validity of the 1899 Award on border delimitation with Guyana, and Guyana’s awards of oil contracts in the Staebrock Block.

Education

• University of Oxford, Academic Visitor, Public International Law and Law of the Sea
• Harvard University Law School, LL.M. (Harvard FES Scholar)
• Universidad de Los Andes Law School, Bogotá, LL.B. (hons)

Admissions & Courts

• Colombia
• New York
• Solicitor, England & Wales

Languages

• Spanish
• English
• French
• Italian

Nationalities

• Colombian
• British

• Member, ICSID Panel of Arbitrators (designated by the Republic of Colombia) (2024–2030)
• Member, Colombian Ministry of Justice’s Expert Commission for the Reform of the Colombian Arbitration Law
• Member, Commission for the Revision of the IBA Rules on the Taking of Evidence
• Member (Colombia), ICC Commission on Arbitration (2018-2022)
• Member, British Institute of International and Comparative Law (BIICL)
• Member, International Arbitration Institute (IAI)
• Member, American Society of International Law (ASIL)
• Mentor, Conecta 3.0 Programme, COLVYAP (2020)

• “La notificación de la intención de arbitrar una controversia y la solicitud de arbitraje en el arbitraje de inversión,” in Guía de Inversión (Y. Ribco Borman y S. Espinosa Quiñones eds., Arbanza, 2023)
• “Le rayonnement de la pensée d’Emmanuel Gaillard en droit de l’arbitrage commercial international,” 2022(4) Journal du droit international 1203 (co-author)
• “Arbitrabilidad Objetiva,” in El Arbitraje Comercial Internacional Estudio de la Convención de Nueva York con motivo de su 50 aniversario (E. Zuleta Jaramillo, G. S. Tawil eds., Tirant Lo Blanch, 2022)
• “Important Arbitration Decision for Lenders,” Lexology, 15 September 2020 (co-author)
• “Regulatory Developments in the Mexican Energy Sectors,” Lexology, 27 May 2020 (co-author)
• “Corruption and its Effect on Termination Payments: Lessons for LatAm Project Finance Transactions,” Lexology, 13 February 2020 (co-author)
• “La saga de los arbitrajes bajo el Tratado de la Carta de la Energía,” in Tratados Internacionales y El Arbitraje de Inversión: Experiencias de Colombia y del Derecho Comparado (Ed. Ibanez, 2019)
• “United States, Mexico: U.S. Confirms Enforcement of Award Set Aside in Mexico,” ICC Dispute Resolution Bulletin, Vol. 2 (2017)
• “Mining in Latin America: El Dorado or Pandora’s Pit?,” Transnational Dispute Management, Latin America Special Vol. 5 (2016) (with Y. Ribco Borman and A. Lema-Sanz Guerrero)
• “Jurisprudence arbitrale: dialectique entre le souci des arbitres de traiter les parties sur un pied d’égalité et la volonté de prendre en compte les intérêts de l’Etat/ autorité concédante,” Revue de droit des affaires internationales / International Business Law Journal, No. 4, 2013
• “Arbitrabilidad Objetiva,” in El Arbitraje Comercial Internacional Estudio de la Convención de Nueva York con motivo de su 50 aniversario (Ed. Abeledo-Perrot, 2008)
• “Impuestos sobre ganancias extraordinarias (Windfall taxes) y medidas provisionales: cuatro casos recientes,” 15 International Law, Revista Colombiana de Derecho Internacional 125 (2009)

• “Construction Arbitration in Latin America, ‘Social Licence’ of Projects and Interactions with Indigenous Communities,” Paris Arbitration Week (PAW), Paris, 26 April 2026
• “The Art of the Deal… and the Dispute: International Arbitration in Latin America,” PAW, Paris, 23 April 2026
• “Interim measures and enforcement challenges in investment and commercial arbitration,” 12th Harvard International Arbitration Conference, Cambridge, MA, 6 April 2026.
• “Problemas Contemporáneos de los arbitrajes de Inversión,” First Congress on State Legal Defense, Cali, Colombia, 20-21 November 2025
• “Acuerdos y practicas ulteriores e interpretación auténtica de los tratados en arbitraje de inversión,” Keynote Speech, Colombian Arbitration Week, Bogotá, Colombia, 22 September 2025
• Discussion with Members of the ICSID Panel of Arbitrators appointed by Colombia, Bogotá, 23 September 2025
• “Defensa de seguridad esencial en arbitraje de inversiones,” Keynote speech, III Comillas Arbitration Day, Madrid, Spain, 4 June 2025
• Investment arbitration course, Cámara de Comercio de Bogotá, Bogotá, Colombia, May 2025
• Lecture in Arbitration Diploma, LexLatin, May 2025
• Lecture in the Litigando Derecho Arbitration course, April 2025
• “Tendencias Emergentes y Desafíos Actuales en el Arbitraje de Inversiones,” Keynote lecture, Universidad de Chile, 4 December 2024
• “Arbitration and insolvency”, Orders, Award and Execution section, Tylney Hall, U.K., 19 May 2024
• “Arbitrability in Comparative Law and Current Trends,” NYU, Science Po and Universidad Católica de Chile, Seminar on International Arbitration: Current Issues and Future Challenges, Santiago, Chile, 16 November 2023
• “London as a seat of arbitration for arbitrations involving Latin American parties or aspects,” London International Disputes Week, London, 15 May 2023
• “Oil & gas disputes with State-owned entities,” Cambridge Arbitration Day, Cambridge, 15 April 2023
• “Mexico’s Renewable Energy Reforms: A New Spain,” Paris Arbitration Week, 27 March 2023
• “Consolidation and Joinder: The delicate balance between efficiency and ensuring jurisdiction,” AAA-ICDR webinar, New Challenges for the AAA-ICDR Rules, Mexico City, 31 January 2023
• “Women’s voices, being heard and how to help other women to be heard and get recognition,” Young Mute–Off Thursdays, 1 September 2022
• “Momentos Disruptivos y Arbitraje: Pandemia y Conflicto Armado, Ejecución de Laudos Arbitrales contra Partes Estatales objeto de Sanciones,” XV Congreso del Centro de Arbitraje Comercial de Portugal, Lisbon, 22 June 2022
• “Desarrollos Recientes en el Arbitraje de Inversión,” 10 Jornada Boliviana de Arbitraje, La Paz, Bolivia, 9–10 June 2022
• “A new wave of gas pricing disputes – the ramifications of the war in Ukraine,” Center for International Legal Studies (CILS) 11^th Biennial Arbitration Symposium, Salzburg, 2–5 June 2022
• “Le rayonnement de la pensée d’Emmanuel Gaillard en droit de l’arbitrage commercial international,” Journée d’hommage à Emmanuel Gaillard, Université Panthéon-Sorbonne, Paris, 15 April 2022
• “Arbitraje en Latinoamérica: ¿Progreso o Regresión?,” webinar organized by CREDEMI and the Center for the Advancement of Law in Latin America (CAROLA), 14 September 2021
• “Arbitraje e Inteligencia Artificial: E-Discovery,” Congreso Anual del Club Español de Arbitraje (CEA) 2021, Madrid, Spain, 13 September 2021
• Discussion on the Advancement of Women in the Field of Public International Law, Who’s Who Legal event, 8 June 2021
• “El arbitraje de la futura normalidad: ¿un arbitraje sostenible?,” webinar organized by CLA, 4 June 2021
• “Arbitraje: una bendición o una maldición,” webinar on Asset Recovery in the Americas, 27 May 2021
• Modulo sobre Presentación de Notificación de Disputa y Demanda de arbitraje, Course organized by ARBANZA Escuela de Arbitraje, 10 May 2021
• “GAR Interactive Question Time,” GAR Mining webinar, 25 March 2021
• “Detrás de la Escena de un Tribunal Arbitral,” Argentina Young Arbitration Practitioners webinar, 24 July 2020
• “Construction Arbitration – practical perspectives of the arbitrator, the litigant and the client”, Young ITATalks, 25 June 2020
• “Covid- Insight Series, Latin America,” webinar, 30 April 2020
• “Investment Treaty Arbitration as a Norm-Generating System in Latin America,” Latin American Arbitration Practitioners event, London, 31 October 2019 (moderator)
• “Apuntes Preliminares,” Latin American Arbitration Practitioners event, Paris, France, 2 October 2019
• “Price revision, Force Majeure and Hardship,” 2nd ICC Colombia Day, Bogotá, Colombia, 16 May 2019
• “La Saga de Yukos,” Universidad Autónoma de México (UNAM), 28 November 2018
• “Arbitraje intra-UE y mecanismos de apelación vs. cortes de apelación,” Conferencia sobre Retos Contemporáneos en el Arbitraje, Instituto Tecnológico Autónomo de México (ITAM), Mexico City, 28 September 2018
• “Anulación y Apelación,” CLA Conferencia Latinoamericana, Cusco, Peru, 1 June 2018
• “Arbitraje de Inversiones en América Latina: El Contexto Regional,” Inversión Extranjera y Arbitraje de Inversiones en Colombia: Retos y Oportunidades para el País y la Región, University of Los Andes Law School, Bogotá, 21-22 March 2018
• “Arbitral Combat,” ICC YAF event, Bogotá, 18 October 2017
• “Las propuestas de la Comisión Europea para una corte permanente de arbitraje,” Vth Seminar on International Investment Arbitration, Lima, Peru, 3 October 2017
• “La resolución de disputas en materia de construcción en América Latina”, ICC Conference, Bogotá, Colombia, 9 March 2017
• Written Advocacy Workshop, Inter-American Development Bank, Washington DC, 30 January 2017
• “Legítimas expectativas del inversor”, 9th Biennial Symposium on International Arbitration and Dispute Resolution, Center for International Legal Studies (CILS), Salzburg, 2–5 June 2016
• Speaker at the IV Seminar on Investment Arbitration, Lima, 6–7 October 2016
• Speaker at the ICC Panarb Conference, 16-18 March 2016
• “Daños en Arbitraje de Inversión,” 2do Congreso Centroamericano de Arbitraje de Inversión, 50 Años del Convenio CIADI, San Salvador, El Salvador, 1–2 February 2016
• Speaker at the III Investment Arbitration Seminar, Lima, Peru, 1–2 October 2015
• “The Arbitral Tribunal’s Jurisdiction,” AILA (African International Legal Awareness) Seminar, September 2015
• “Substantive protections under bilateral investment protection treaties,” AILA (African International Legal Awareness) Seminar, July 2014
• “Confusión doctrinaria en la jurisprudencia de los tribunales arbitrales en casos de inversión: obligaciones primarias, reglas de atribución e importación de esquemas del derecho comercial,” 9th Biennial Symposium on International Arbitration and Dispute Resolution, Center for International Legal Studies (CILS), Salzburg, 22–25 May 2014
• “Desarrollo de Estrategias para la Resolución de Conflictos por Medios Alternativos”, C5’s 1st Mining Projects, West Africa Law & Regulation Forum, 12-13 March 2014