U.S. Court Denies Colombian Energy Co.'s Appeal

Law360, New York (May 29, 2007, 12:00 AM EDT) -- An appeals court panel held Friday that a Colombian court competently ruled on a dispute between two energy companies, and that it was therefore obligated to accept the decision.

In its opinion, the U.S. Court of Appeals for the D.C. Circuit rejected TermoRio SA ESP's attempt to recoup the $60 million it allegedly lost when a power purchase agreement with Electrificadora del Atlantico SA, or Electranta, went awry.

“The district court correctly observed that '[t]his matter is a peculiarly Colombian affair,' concerning, as it does, 'a...
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