Colombia Battles U.S. Investors for $17 Billion Treasure
April 30 (Bloomberg) — Paolo Di Rosa, head of the International Arbitration practice at Arnold & Porter LLP, talks with Bloomberg Law’s Spencer Mazyck about successfully defending the Republic of Colombia in U.S. federal court litigation with Sea Search Armada, a group of U.S. investors engaged in worldwide marine salvage operations, over claims to a sunken treasure off the coast of Colombia that may be worth more than $17 billion. On April 8, 2013, the U.S. Court of Appeals for the D.C. Circuit upheld the lower court’s dismissal of all claims brought by the salvage company.
Di Rosa, in this “Rainmakers” episode, also discusses human-rights claims recently filed by Sea Search Armada against Colombia.