The Ecuadorian State will appeal the arbitration award ruled against Ecuador, and in favor of the pharmaceutical company Merck Sharp & Dhome, with which it was penalized with a compensation of USD 44 million.
The District Court of The Hague rejected the annulment action filed by the Republic of Ecuador against the partial and final awards issued on January 25, 2018 and March 9, 2020.
Likewise, the institution will notify the international pharmaceutical company with the appeal of that ruling, thereby formally initiating the appeal procedure in accordance with the provisions of Dutch law.
According to the PGE, this action seeks to reverse the decision that denied the annulment request presented by Ecuador so that the arbitration awards that determined the responsibility of the State in favor of Merck are annulled.
The Attorney General’s Office recalled that this arbitration began in 2011 and in January 2018 the Court issued its final partial award (award on liability) and in March 2020 released its final award that quantified the compensation that the State must pay to the American company for the violation of the Bilateral Investment Treaty signed between Ecuador and the United States.
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