Industry – July 16, 2026
Joyvio: revives $300m Australis battle with fresh arbitration bid
Chinese agribusiness Joyvio has requested a new arbitration in its long-running legal dispute with the former owners of Chilean salmon farmer Australis Seafoods, following the annulment of a compensation award worth around $300 million (€258 million).
According to Chilean newspaper El Mercurio, Joyvio has asked the Arbitration and Mediation Center (CAM) of the Santiago Chamber of Commerce to appoint a new arbitration panel, arguing that the Santiago Court of Appeals overturned the previous award but did not invalidate the underlying arbitration proceedings.
CAM has accepted the request and instructed Inversiones Benjamín, the investment vehicle of former Australis owner Isidoro Quiroga, to nominate its co-arbitrator by Aug. 3. Joyvio has appointed lawyer Sabina Sacco as its arbitrator, the newspaper reported.
The move follows a June ruling by the Santiago Court of Appeals annulling an arbitration award that had ordered Quiroga and other former shareholders to pay approximately $300 million, including interest, to Joyvio.
The dispute stems from Joyvio's $921 million (€792 million) acquisition of Australis Seafoods in 2019. Joyvio alleges the sellers concealed overproduction that exposed the company to potential environmental sanctions, claims that Quiroga and his associates have denied.
Joyvio had originally sought to rescind the acquisition or recover damages of around $620 million (€533 million). Rather than appeal the annulment to Chile's Supreme Court, the company has opted to pursue a new arbitration, arguing that only the award itself—not the arbitration agreement—was set aside.
