Carey assists Codelco in invalidation of Supreme Court judgment

Carey has assisted Codelco, before the Supreme Court, in the invalidation of a judgment of the Court of Appeals of Santiago, which ordered the payment of approximately US $3 million in favour of Mol Ambiente, for alleged unilateral and arbitrary termination of a contract for the provision of services and commercialisation of scrap metal.

This transaction was completed on 1 August, where Claussen & Velasco Asociados advised the counterparty.

Termination for convenience clauses have been challenged lately in Chilean jurisdiction. For Codelco, the outcome is important, given that all its bidding conditions and contracts incorporate them. The judgment is relevant case law on the matter, for the purpose of determining the correct application of unilateral termination clauses.

Pedro Ávila acted as in-house lawyer for Codelco.

Carey’s team was led by partner Ricardo Reveco (pictured), and associates Ricardo Padilla and Carlos Troncoso.