ICSID Releases Split Tribunal’s Award Against Peru For Devaluing Land Bonds

Mealey's (January 19, 2023, 12:24 PM EST) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Jan. 18 published a split tribunal’s award of more than $100 million with interest in favor of two U.S. investment entities, in which the majority agreed that the Republic of Peru arbitrarily devalued the entities’ land bonds but awarded only 5% of the damages sought, while a dissenting arbitrator called the claims an “abuse of process."...