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2d ago

CIADI Panel Upholds Stay on Lima Metro Line 2 Award, Denies Lift and Guarantee

The ruling shields Peru from immediate payments exceeding $200 million.

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.

Overview

  • On Nov. 1, 2025, the ad hoc Annulment Committee kept the execution of the ARB/17/3 award suspended while Peru’s partial annulment proceeds.
  • The Committee rejected Metro de Lima Línea 2 S.A.’s requests to lift the stay or impose a financial guarantee on Peru, citing no payment risk and the state’s solvency.
  • It found Peru acted in good faith and deemed the March 4 annulment filing non‑dilatory.
  • The panel warned that ending the stay could substantially prejudice Peru and harm CIADI’s institutional coherence given a parallel review of the same award.
  • Peru continues its defense with Squire Patton Boggs, which has been paid S/9.9 million, as ACS-linked claims tied to the concession exceed $200 million in contested liabilities.