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talaw6046 - Telefonica v. Colombia, Request for Reconsideration of the Committee’s Decision Conditioning the Stay of Enforcement of on Provision of a Bank Guarantee, April 6, 2026.pdf (

6 Apr 2026
Telefónica, S.A. v. Republic of Colombia, ICSID Case No. ARB/18/3
View case details
Request for Reconsideration of the Committee’s Decision Conditioning the Stay of Enforcement of on Provision of a Bank Guarantee
Document Details:
LISTED PARTICIPANTS
Request for Reconsideration of the Committee’s Decision Conditioning the Stay of Enforcement of on Provision of a Bank Guarantee
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
Dário Moura Vicente
ICSID Annulment Committee members
José Antonio Moreno Rodríguez, Mélanie Riofrio Piché
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Claimant's law firm
Respondent's counsel
César Palomino Cortés, Yebrail Andrés Haddad Linero, Andrés Darío Sarmiento Lamus, Leonardo David Beltrán Rico, Daniela Velásquez Sarmiento, Eduardo Silva Romero, Catalina Echeverri Gallego, Ana María Durán López
Respondent's law firm
Other counsel
Claimant's expert
Claimant's expert firm
Respondent's expert
Respondent's expert firm
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Ricardo Marroquín González
Tribunal assistant
Third-party funder
Entities
Telefónica, Wordstone Dispute Resolution, Colombia
Country
Print reporter
Document Summary
Request for Reconsideration of the Committee’s Decision Conditioning the Stay of Enforcement of on Provision of a Bank Guarantee
This summary note is machine-generated. Always consult the original materials.

This document is a letter from the Respondent, the Republic of Colombia, to the ad hoc Committee in the ICSID annulment proceeding ARB/18/3. The letter constitutes a formal request for the Committee to reconsider its decision of March 5, 2026, which conditioned the continued stay of enforcement of the underlying Award on Colombia's provision of a bank guarantee.

Colombia asserts that it is legally and practically impossible for it to provide the required guarantee within the prescribed time limits, citing constraints imposed by its domestic Constitution and laws. The State contends that it has made all reasonable efforts to comply, including proposing an alternative written institutional commitment to the Claimant, Telefónica, S.A., which was rejected. Colombia argues that lifting the stay of enforcement would impose a severe and unjust penalty for its inability to perform an impossible obligation. This would permit Telefónica to initiate enforcement proceedings while Colombia's legitimate application for annulment remains pending, thereby forcing the State to divert significant resources to defend against parallel enforcement actions.

Consequently, Colombia formally reiterates its request for the Committee to reconsider and rescind the condition requiring a bank guarantee for the stay of enforcement to remain in effect.