-22investment of approximately US$33,729,540 (thirty-three million seven hundred and
twenty-nine thousand five hundred and forty United States dollars) was made under this
investment contract.15
57(9) On December 15, 1993, after the rights arising from this contract had been ceded
several times to other companies that would act as foreign investors,16 the company
receiving the investment, Inversiones Cetec-Sel Chile Ltda. changed its name to Forestal
Trillium Ltda. (hereinafter “Forestal Trillium”) and, on March 15, 1999, changed its name
again to Forestal Savia Limitada.17
57(10) On August 28, 2002, and October 10, 2003, the foreign investor, Bayside Ltd.,
and the State of Chile signed two foreign investment contracts authorizing a capital
investment of US$10,000,000 (ten million United States dollars) and US$5,000,000 (five
million United States dollars), “to be surrendered and paid to increase the capital of the
company FORESTAL SAVIA LIMITADA, formerly FORESTAL TRILLIUM LIMITADA, which is
developing the Río Cóndor forestry exploitation project in the twelfth region.” The
contract indicated that the investment authorization was “without prejudice to any other
[authorizations] that […] might be required from the competent authorities.”18
57(11) The Río Cóndor Project was not executed; hence, Forestal Savia Limitada
(formerly Forestal Trillium), which was the “receiver of the capital flows of the accredited
foreign investor companies,” did not implement the project.19
Concerning Marcel Claude Reyes and Arturo Longton Guerrero’s request for
information from the Foreign Investment Committee and the latter’s response
57(12) Marcel Claude Reyes is an economist. In 1983, he worked in the Central Bank as
an adviser to the Foreign Investment Committee and in the Environmental Accounts Unit;
also, he was Executive Director of the Terram Foundation from 1997 to 2003. One of the
purposes of this non-governmental organization was to promote the capacity of civil
III, folio 826); and expert opinion given by Roberto Mayorga Lorca before the Inter-American Court during the
public hearing held on April 3, 2006.
15
Cf. Report by Karen Poniachik, Executive Vice President of the Foreign Investment Committee, dated
June 20, 2005 (file of appendixes to the brief answering the application and with observations on the requests
and arguments brief, appendix 1, folio 2041).
Cf. Contract transferring foreign investment rights from Cetec Engineering Company Inc. and Sentarn
Enterprises Ltd. to Zuñirse Holding Ltd., dated April 12, 1993 (file of appendixes to the brief answering the
application and with observations on the requests and arguments brief, appendix 2, folios 2099 to 2105).
16
17
Cf. Report by Karen Poniachik, Executive Vice President of the Foreign Investment Committee, dated
June 20, 2005 (file of appendixes to the brief answering the application and with observations on the requests
and arguments brief, appendix 1, folio 2041); and registration No. 787/99 concerning change in company (file
of appendixes to the brief answering the application and with observations on the requests and arguments brief,
appendix 2, folio 2109).
18
Cf. Foreign investment contracts of August 28, 2002, and October 10, 2003 (file of appendixes to the
brief answering the application and with observations on the requests and arguments brief, appendix 2, folios
2115 and 2120).
Cf. Newspaper article entitled “Victoria Parcial Contra el Secretismo” published in “El Mercurio” on July
10, 2005 (file of appendixes to the requests and arguments brief, appendix 10, folios 1637 and 1638); brief
answering the application and with observations on the requests and arguments brief, and requests and
arguments brief (file on merits and possible reparations and costs, volume I, folios 130, 197 and 198); and
testimony given by Marcel Claude Reyes before the Inter-American Court during the public hearing held on April
3, 2006.
19