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8h ago

CIADI Panel Keeps Lima Metro Line 2 Award on Hold, Denies Claimant’s Guarantee Request

The decision shields Peru from paying over $200 million during annulment proceedings by citing good‑faith conduct plus the risk of prejudice from a parallel review.

CIADI mantiene suspensión de laudo por más de US$200 millones a favor de la Línea 2 del Metro de Lima
El MEF destacó que esta decisión constituye una victoria procesal significativa que fortalece la posición del país ante el CIADI.
El Comité también rechazó el pedido del concesionario para imponer una garantía financiera al Estado, argumentando que no existe riesgo de pago. Foto: Difusión.
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Overview

  • The ad hoc annulment committee on November 1 maintained the suspension of enforcement of the CIADI award in Case ARB/17/3 concerning Metro de Lima Línea 2.
  • The committee rejected the concessionaire’s bids to lift the stay or force Peru to post a financial guarantee, finding no risk of nonpayment and affirming the State’s solvency.
  • It noted Peru’s request for annulment filed on March 4, 2025 was not dilatory and reflected serious compliance with international obligations.
  • The panel warned that executing the award now could cause substantial prejudice to Peru and undermine institutional coherence because the same award faces a parallel review.
  • Peru continues to seek annulment through its Special Commission with counsel from Squire Patton Boggs, which has been contracted for S/9.9 million for the defense.