Arnold & Porter Achieves Significant International Arbitration Victories for Republic of Peru
Arnold & Porter's International Arbitration team, known for its unmatched track record in securing positive outcomes for sovereign states and investors, has advised Peru on two additional significant victories.
In the case of Latam Hydro LLC and CH Mamacocha S.R.L. v. Republic of Peru (ICSID Case No. ARB/19/28), decided on December 20, 2023, the Tribunal dismissed all claims against Peru. The case, which involved a hydroelectric project, was noted for its complexity, including environmental concerns and multiple legal proceedings. The Tribunal ordered the claimants to reimburse Peru's arbitration costs. The Arnold & Porter team was led by Patricio Grané Labat and included partner Amy Endicott, counsel Álvaro Nistal, senior associates Claudia M. Taveras, Cristina Arizmendi, and Brian Bombassaro, associates Julia Calderón Carcedo, Ana Pirnia, Peter Schmidt, and Peter Saban, attorney Andrés Álvarez Calderón, and legal consultant Natalia Giraldo-Carrillo.
In the second case, Worth Capital Holdings 27 LLC v. Republic of Peru (ICSID Case No. ARB/20/51), decided on December 8, 2023, the Tribunal emphasized equity and fairness in its decision to discontinue the arbitration and ordered the claimants to bear all of Peru's legal fees, amounting to US $2,562,627, and arbitration costs. This case marked the 50th positive outcome in the last 51 investment arbitration rulings in which the firm has represented Peru. The team was led by partner Patricio Grané Labat and included partner Mélida Hodgson, senior associate Katelyn Horne, and associates Julia Calderón Carcedo, Sebastian Canon Urrutia, and Ernesto Hernandez.