Chilean entrepreneur ordered to repay $300 million in Australis salmon sale dispute,
The Chilean businessman Isidoro Quiroga has been ordered to repay nearly $300 million to China’s Joyvio Group over the 2019 sale of salmon farming company Australis, following a ruling by the Arbitration and Mediation Centre (CAM) of the Santiago Chamber of Commerce.
The arbitration tribunal found that Quiroga and his associates failed to properly disclose material information during the transaction, including the company’s alleged overproduction of salmon, which was deemed a latent issue at the time of sale, according to reporting from interferencia.cl. The court awarded Joyvio $217 million in restitution, plus nearly $75 million in interest and legal costs — significantly less than the $1.4 billion originally sought.
In a statement, Quiroga’s holding company Inversiones Benjamín said it plans to challenge the ruling through the ordinary courts, despite the low likelihood of overturning an arbitral award in Chile. The company also noted that the tribunal found no evidence of fraud or intent to deceive, which it argued undermines parallel criminal proceedings currently under way.
Joyvio’s legal representatives, Sebastián Oddó and Carolina Alcalde, welcomed the decision, saying it marked the first legal milestone in securing reparations over the alleged financial harm caused by the sale.
The case stems from Joyvio’s 2022 self-report to Chile’s environmental regulator (SMA), which revealed undisclosed overproduction across 33 Australis grow-out sites. Environmental proceedings remain ongoing, alongside a criminal fraud complaint filed by Joyvio against Quiroga.
