Arbitration tribunal rules in favor of Yara and orders injunction measures to Indumil

Posse Herrera Ruiz acted as Colombian legal advisor to Yara International A.S.A., Yara A.B. and SSMC (Suministros y Servicios Mineros de Colombia) in arbitration proceedings against INDUMIL (Industria Militar –State Enterprise) for breach of Coproduction Contract.

Arbitration Tribunal ruled in favor of Yara and ordered precautionary measures, suspending INDUMIL from collecting sums related to the contract valued in US $11million (aprox). This ruling is the first of this nature regarding an innominate injunction in Colombia.

Date: November 11, 2014.

LEGAL ADVISORS

Counsel to Yara

-Posse Herrera Ruiz: Partners Daniel Posse and Carolina Posada and Associate Juan Pablo Bonilla.

Counsel to INDUMIL: Ana María Ruan.