ICSID - International Centre for Settlement of Investment Disputes

07/03/2024 | Press release | Distributed by Public on 07/03/2024 15:17

Metro de Lima Línea 2 S.A. v. Republic of Peru (ICSID Case No. ARB/17/3)

Metro de Lima Línea 2 S.A. v. Republic of Peru (ICSID Case No. ARB/17/3)

  • Subject of Dispute:
    Metro concession agreement
  • Economic Sector:
    Transportation
  • Instrument(s) Invoked: (i)
    Contract
  • Applicable Rules:
    ICSID Convention - Arbitration Rules

(a) Original Proceeding

  • Claimant(s)/Nationality(ies): (i)
    Metro de Lima Línea 2 S.A. (Peruvian)
  • Respondent(s):
    Republic of Peru (Peruvian)
  • Date Registered:
    February 1, 2017
  • Date of Constitution of Tribunal:
    July 10, 2017
  • Composition of Tribunal

  • President:
    David J. A. CAIRNS (British, New Zealand) - Appointed by the Parties
  • Arbitrators:
    Guido Santiago TAWIL (Argentine, Portuguese) - Appointed by the Claimant(s)
    Jose Emilio NUNES PINTO (Brazilian) - Appointed by the Respondent(s)
  • Party Representatives

  • Claimant(s):
    Cuatrecasas, Madrid, Spain
  • Respondent(s):
    Squire Patton Boggs (UK), Paris, France
    Squire Patton Boggs (US), Miami, FL, U.S.A
    Ministerio de Economía y Finanzas, Lima, Peru
  • Language(s) of Proceeding:
    Spanish
  • Status of Proceeding:
    Concluded
  • Outcome of Proceeding:
    March 21, 2024 - The Tribunal renders its award.

(b) Rectification Proceeding

  • Applicant(s)/Requesting Party(ies): (i)
    Claimant(s)
  • Date Registered:
    May 7, 2024
  • Party Representatives

  • Claimant(s):
    Cuatrecasas, Madrid, Spain
  • Respondent(s):
    Squire Patton Boggs (US), Miami, FL, U.S.A
  • Language(s) of Proceeding:
    Spanish
  • Status of Proceeding:
    Pending
  • Latest Development:
    June 21, 2024 - Each party files a submission on costs.

(c) Revision Proceeding

  • Applicant(s)/Requesting Party(ies): (i)
    Respondent(s)
  • Date Registered:
    July 3, 2024
  • Party Representatives

  • Claimant(s):
    Cuatrecasas, Madrid, Spain
  • Respondent(s):
    Foley Hoag, Washington, D.C., U.S.A.
    Ministerio de Economía y Finanzas, Lima, Peru
  • Status of Proceeding:
    Pending
  • Latest Development:
    July 3, 2024 - The Secretary-General registers an application for revision of the award filed by the Republic of Peru.

(a) Original Proceeding

Published Decisions

Decision

Available on the ICSID Website

Decision (July 6, 2021)Spanish (Original)

(a) Original Proceeding

Date Development
February 1, 2017 The Secretary-General registers a request for the institution of arbitration proceedings.
April 15, 2017 Following appointment by the Claimant, Guido Santiago Tawil (Argentine) accepts his appointment as arbitrator.
April 21, 2017 Following appointment by the Respondent, José Emilio Nunes Pinto (Brazilian) accepts his appointment as arbitrator.
July 10, 2017

Following appointment by agreement of the parties, David J.A. Cairns (British/New Zealand) accepts his appointment as presiding arbitrator.

July 10, 2017

The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: David J.A. Cairns ((British/New Zealand), President, appointed by agreement of the parties; Guido Santiago Tawil (Argentine), appointed by the Claimant; and José Emilio Nunes Pinto (Brazilian), appointed by the Respondent.

September 1, 2017 The Tribunal holds a first session by telephone conference.
September 25, 2017

The Tribunal issues Procedural Order No. 1 concerning procedural matters.

January 23, 2018

The Claimant files a memorial on the merits.

May 30, 2018

The Respondent files a counter-memorial on the merits.

November 19, 2018

The Claimant files a reply on the merits.

November 19, 2018

The Claimant files a request for provisional measures.

December 6, 2018

The Tribunal issues Procedural Order No. 2 concerning production of documents.

February 1, 2019

The Tribunal issues Procedural Order No. 3 concerning provisional measures.

February 18, 2019

The Respondent files a rejoinder on the merits.

March 19, 2019

The Tribunal issues Procedural Order No. 4 concerning a site visit.

March 28, 2019 - March 29, 2019

The Tribunal and the parties visit the places connected with the dispute pursuant to ICSID Arbitration Rule 37(1).

April 4, 2019

The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.

April 10, 2019

The Tribunal issues Procedural Order No. 5. concerning the site visit of March 28-29, 2019.

April 11, 2019

The Respondent files observations on the Claimant's request of April 4, 2019.

April 23, 2019

The Tribunal issues a decision on the admissibility of new evidence.

April 26, 2019

The Tribunal issues Procedural Order No. 6 concerning the organization of the hearing.

May 6, 2019 - May 16, 2019

The Tribunal holds a hearing on jurisdiction and the merits in Washington, D.C.

May 23, 2019

The Tribunal issues Procedural Order No. 7 concerning procedural matters.

June 19, 2019

Each party files answers to questions posed by the Tribunal during the hearing on jurisdiction and the merits.

July 12, 2019

Each party files further answers to questions posed by the Tribunal during the hearing on jurisdiction and the merits.

September 20, 2019

Each party files a post-hearing brief.

July 6, 2021

The Tribunal issues a decision on jurisdiction and liability.

August 11, 2021

The Tribunal issues Procedural Order No. 8 concerning procedural matters.

October 11, 2021

The Claimant's experts file an expert report on quantum.

December 8, 2021

The Claimant files a proposal on the determination of interest.

December 15, 2021

The Respondent files a proposal on the determination of interest.

December 30, 2021

The Respondent's experts file an expert report on quantum.

January 14, 2022

The Claimant files a request for the exclusion of evidence.

January 24, 2022

The Respondent files observations on the Claimant's request for the exclusion of evidence.

January 31, 2022

The Parties' experts file a joint submission on quantum.

July 12, 2023

Each party files a submission on costs.

August 4, 2023

Each party files observations on the other party's submission on costs.

March 15, 2024

The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).

March 21, 2024

The Tribunal renders its award.

(b) Rectification Proceeding

Date Development
May 7, 2024

The Secretary-General registers a request for rectification of the award filed by Metro de Lima Línea 2, S.A.

May 29, 2024

The Respondent files observations on the Claimant's request for rectification.

June 21, 2024

Each party files a submission on costs.

(c) Revision Proceeding

Date Development
July 3, 2024

The Secretary-General registers an application for revision of the award filed by the Republic of Peru.