Permanent Court of Arbitration

The case is due to be heard from Tuesday next week at the Permanent Court of Arbitration, a dispute resolution body based in the Hague, by a panel of three mutually-agreed international trade judges.

There have been court battles in Colombia and the US, and the case is now before the Permanent Court of Arbitration at the Hague.

And US-based salvage company Sea Search Armada has taken Colombia to the UN's Permanent Court of Arbitration, seeking £7.8bn, over claims it first discovered the vessel more than 40 years ago.

The original case was handled under the Permanent Court of Arbitration, headquartered in The Hague, Netherlands.

In 2016, the Permanent Court of Arbitration in the Hague ruled on a petition from the Philippines that China’s claims were invalid and that the Philippines and its neighbors were indeed entitled to control their respective EEZs.