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6h ago

U.S. Judge Declares Peru in Default Over $91 Million Chinchero Arbitration Award

The ruling makes the ICSID award executable as a U.S. judgment, opening the door to enforcement actions abroad.

Caso Chinchero: juez de Estados Unidos declara a Perú en rebeldía por no pagar laudo arbitral de US$91 millones
Declaran a Perú en rebeldía en Estados Unidos por deuda de 91 mdd
La disputa aeroportuaria se relaciona con el retraso del proyecto de construcción de Chinchero, en Cusco.
(Fuente: MTC)

Overview

  • On December 22, Judge Richard Leon of the U.S. District Court for the District of Columbia found that Peru neither paid the award nor appeared in the recognition proceeding.
  • The case stems from Peru’s 2017 termination of the Chinchero airport concession, which an ICSID tribunal in May 2024 found unlawful, ordering $91,205,056 in compensation.
  • Interest has been accruing on the award since February 2024 and will continue until the debt is settled.
  • The court’s confirmation allows Kuntur Wasi to pursue attachments and other collection measures against eligible Peruvian state assets.
  • Kuntur Wasi is a consortium of Andino Investment Holding and Corporación América, and the decision adds to a series of recent investor‑state losses reported for Peruvian entities, including a $200 million case involving a Brookfield affiliate.