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A Chilean appellate court annulled a major international arbitration award in a salmon-farming acquisition dispute, ruling that the tribunal exceeded its mandate by recharacterizing the buyers' contractual damages claim into an unpleaded restitutionary price adjustment claim. The decision explores the boundaries of the iura novit curia principle and its limits when tribunals reshape claims beyond what parties actually submitted for arbitration.

Chile follows a civil law system strongly influenced by the Spanish and French legal systems, specifically by the Napo¬leonic Code model.