Michael Stepek Discusses Representation of Dominion Minerals in Arbitration with Panama

Winston represents Dominion Minerals Corp. in its claims brought pursuant to the Treaty between the United States and the Republic of Panama concerning the Treatment and Protection of Investments arising out of Dominion’s investment in a copper and gold concession in Western Panama before a Tribunal of the International Centre for Settlement of Investment Disputes (ICSID).  Dominion received an award in its favour that found the Republic of Panama liable for breach of the FET and expropriation provisions in the Treaty and awarded damages with a current value of $26.7 million. This is the first time that the Republic of Panama has ever been found liable for breach of its international obligations to a foreign investor.

Michael Stepek, chair of Winston & Strawn’s International Arbitration Practice, served as arbitration counsel to Dominion Minerals and confirmed to Global Arbitration Review that the state is “in the process of satisfying in full” the award.

Read the full Global Arbitration Review article.