ICSID Rejects $350M Claim Against Colombia Citing Its National Security Defense

( August 26, 2024, 2:06 PM EDT) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) published a tribunal’s award rejecting U.S. investors’ claims against the Republic of Colombia for expropriating land they purchased that Colombia alleged was previously tied to narcotics trafficking, finding it lacks jurisdiction because the challenged conduct falls under an “essential security” exception in a trade agreement....