The Santiago Court of Appeals annulled by a two-to-one vote an arbitral award that ordered Isidoro Quiroga to pay about 200 million dollars to Chinese firm Joyvio over the 2019 sale of Australis Seafoods.
The First Chamber ruling, issued on June 24 2026, fully invalidated the award from the Arbitration and Mediation Center of the Santiago Chamber of Commerce. Ministers Guillermo De la Barra and Catalina Infante voted for annulment while Fernando Valderrama dissented.
The court found the award was inconsistent with the claim filed by Joyvio, which had sought damages rather than a price-reduction restitution. The original arbitral panel had set in August 2025 a payment of about 217 million dollars plus interest.
Quiroga’s defense through Asesorías e Inversiones Benjamin stated: “We are very pleased that a legally improper ruling has been invalidated.” Joyvio’s lawyers said they are considering an appeal to the Supreme Court or a new arbitration.
