Case Details

Metro de Lima Línea 2 S.A. v. Republic of Peru (ICSID Case No. ARB/17/3)

Subject of Dispute:

Metro concession agreement
Economic Sector:

Transportation
Instrument(s) Invoked:

Contract
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Metro de Lima Línea 2 S.A. (Peruvian)
Respondent(s):

Republic of Peru (Peruvian)
Date Registered:

February 1, 2017
Date of Constitution of Tribunal:

July 10, 2017

Composition of Tribunal

President:

David J. A. CAIRNS (British, New Zealand) - Appointed by the Parties
Arbitrators:

Guido Santiago TAWIL (Argentine, Portuguese) - Appointed by the Claimant(s)
Jose Emilio NUNES PINTO (Brazilian) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Cuatrecasas, Madrid, Spain
Respondent(s):

Ministerio de Economía y Finanzas, Lima, Peru
Squire Patton Boggs (US), Miami, FL, U.S.A
Squire Patton Boggs (UK), Paris, France
Baxel Consultores, Lima, Peru
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

March 21, 2024 - The Tribunal renders its award.

(b) Rectification Proceeding

Applicant(s)/Requesting Party(ies):

Claimant(s)
Date Registered:

May 7, 2024

Party Representatives

Claimant(s):

Cuatrecasas, Madrid, Spain
Respondent(s):

Squire Patton Boggs (US), Miami, FL, U.S.A
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

October 30, 2024 - The Tribunal issues a decision on the rectification of the award.

(c) Revision Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

July 3, 2024
Date of Constitution of Tribunal:

July 9, 2024

Composition of Tribunal

President:

David J. A. CAIRNS (British, New Zealand)
Arbitrators:

Guido Santiago TAWIL (Argentine, Portuguese)
Jose Emilio NUNES PINTO (Brazilian)

Party Representatives

Claimant(s):

Cuatrecasas, Madrid, Spain
Respondent(s):

Squire Patton Boggs (US), Miami, FL, U.S.A
Squire Patton Boggs (UK), Paris, France
Ministerio de Economía y Finanzas, Lima, Peru
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Pending
Latest Development:

October 6, 2025 - Metro de Lima Línea 2, S.A. files a rejoinder on revision.

(d) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

March 4, 2025
Date of Constitution of ad hoc Committee:

June 2, 2025

Composition of ad hoc Committee (Appointed by the Chairman of the Administrative Council)

President:

Erica STEIN (Belgian, U.S.)
Members:

Álvaro Rodrigo CASTELLANOS HOWELL (Guatemalan)
Katherine GONZÁLEZ ARROCHA (French, Panamanian)

Party Representatives

Claimant(s):

Cuatrecasas, Madrid, Spain
Echecopar, Lima, Peru
Respondent(s):

Squire Patton Boggs (UK), Paris, France
Ministerio de Economia y Finanzas, Lima, Peru
Squire Patton Boggs (US), Miami, FL, U.S.A
Baxel Consultores, Lima, Peru
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Pending
Latest Development:

January 7, 2026 - The Committee issues Procedural Order No. 2 concerning the Applicant’s request for the suspension of the proceeding.

(a) Original Proceeding

Published Decisions

Decision

Available on the ICSID Website

Decision (July 6, 2021) Spanish (Original)

(a) Original Proceeding

Date	Development
February 1, 2017	The Secretary-General registers a request for the institution of arbitration proceedings.
April 15, 2017	Following appointment by the Claimant, Guido Santiago Tawil (Argentine) accepts his appointment as arbitrator.
April 21, 2017	Following appointment by the Respondent, José Emilio Nunes Pinto (Brazilian) accepts his appointment as arbitrator.
July 10, 2017	Following appointment by agreement of the parties, David J.A. Cairns (British/New Zealand) accepts his appointment as presiding arbitrator.
July 10, 2017	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: David J.A. Cairns ((British/New Zealand), President, appointed by agreement of the parties; Guido Santiago Tawil (Argentine), appointed by the Claimant; and José Emilio Nunes Pinto (Brazilian), appointed by the Respondent.
September 1, 2017	The Tribunal holds a first session by telephone conference.
September 25, 2017	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
January 23, 2018	The Claimant files a memorial on the merits.
May 30, 2018	The Respondent files a counter-memorial on the merits.
November 19, 2018	The Claimant files a reply on the merits.
November 19, 2018	The Claimant files a request for provisional measures.
December 6, 2018	The Tribunal issues Procedural Order No. 2 concerning production of documents.
February 1, 2019	The Tribunal issues Procedural Order No. 3 concerning provisional measures.
February 18, 2019	The Respondent files a rejoinder on the merits.
March 19, 2019	The Tribunal issues Procedural Order No. 4 concerning a site visit.
March 28, 2019 - March 29, 2019	The Tribunal and the parties visit the places connected with the dispute pursuant to ICSID Arbitration Rule 37(1).
April 4, 2019	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.
April 10, 2019	The Tribunal issues Procedural Order No. 5. concerning the site visit of March 28-29, 2019.
April 11, 2019	The Respondent files observations on the Claimant’s request of April 4, 2019.
April 23, 2019	The Tribunal issues a decision on the admissibility of new evidence.
April 26, 2019	The Tribunal issues Procedural Order No. 6 concerning the organization of the hearing.
May 6, 2019 - May 16, 2019	The Tribunal holds a hearing on jurisdiction and the merits in Washington, D.C.
May 23, 2019	The Tribunal issues Procedural Order No. 7 concerning procedural matters.
June 19, 2019	Each party files answers to questions posed by the Tribunal during the hearing on jurisdiction and the merits.
July 12, 2019	Each party files further answers to questions posed by the Tribunal during the hearing on jurisdiction and the merits.
September 20, 2019	Each party files a post-hearing brief.
July 6, 2021	The Tribunal issues a decision on jurisdiction and liability.
August 11, 2021	The Tribunal issues Procedural Order No. 8 concerning procedural matters.
October 11, 2021	The Claimant’s experts file an expert report on quantum.
December 8, 2021	The Claimant files a proposal on the determination of interest.
December 15, 2021	The Respondent files a proposal on the determination of interest.
December 30, 2021	The Respondent’s experts file an expert report on quantum.
January 14, 2022	The Claimant files a request for the exclusion of evidence.
January 24, 2022	The Respondent files observations on the Claimant’s request for the exclusion of evidence.
January 31, 2022	The Parties’ experts file a joint submission on quantum.
July 12, 2023	Each party files a submission on costs.
August 4, 2023	Each party files observations on the other party’s submission on costs.
March 15, 2024	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
March 21, 2024	The Tribunal renders its award.

(b) Rectification Proceeding

Date	Development
May 7, 2024	The Secretary-General registers a request for rectification of the award filed by Metro de Lima Línea 2, S.A.
May 29, 2024	The Respondent files observations on the Claimant’s request for rectification.
June 21, 2024	Each party files a submission on costs.
September 13, 2024	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rules 38(1), 46 and 49(4).
October 30, 2024	The Tribunal issues a decision on the rectification of the award.

(c) Revision Proceeding

Date	Development
July 3, 2024	The Secretary-General registers an application for revision of the award filed by the Republic of Peru.
July 9, 2024	The Tribunal is reconstituted. Its members are: David J. A. Cairns (British/New Zealand), Guido Santiago Tawil (Argentine/Portuguese), and José Emilio Nunes Pinto (Brazilian).
July 30, 2024	Metro de Lima Línea 2, S.A. files a request to lift the provisional stay of enforcement of the award.
July 30, 2024	Metro de Lima Línea 2, S.A. files preliminary objections pursuant to ICSID Arbitration Rule 41(5).
August 15, 2024	The Republic of Peru files observations on Metro de Lima Línea 2 S.A.’s request to lift the provisional stay of enforcement of the award.
August 29, 2024	The Tribunal issues a decision concerning the continuation of the stay of enforcement of the award.
September 13, 2024	The Republic of Peru files observations on Metro de Lima Línea 2 S.A.’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
November 5, 2024	The Tribunal holds a hearing on Metro de Lima Línea 2, S.A.’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) by video conference.
November 5, 2024	The Tribunal holds a first session with the parties by video conference.
January 7, 2025	The Tribunal issues a decision on Metro de Lima Línea 2, S.A.’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
January 7, 2025	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
March 17, 2025	The Republic of Peru files a memorial on revision.
May 23, 2025	Metro de Lima Línea 2, S.A. files a counter-memorial on revision.
June 19, 2025	Following exchanges between the parties, each party files a request for the Tribunal to decide on production of documents.
July 2, 2025	The Tribunal issues a decision on production of documents.
July 30, 2025	The Republic of Peru files a reply on revision.
October 6, 2025	Metro de Lima Línea 2, S.A. files a rejoinder on revision.

(d) Annulment Proceeding

Date	Development
March 4, 2025	The Secretary-General registers an application for partial annulment of the award filed by the Republic of Peru and notifies the parties of the provisional stay of enforcement of the award.
June 2, 2025	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Erica Stein (U.S./Belgian), President; Álvaro Rodrigo Castellanos Howell (Guatemalan); and Katherine González Arrocha (Panamanian/French); all members appointed by the Chairman of the Administrative Council.
June 26, 2025	The Applicant files a request for the suspension of the proceeding.
July 30, 2025	Metro de Lima Línea 2, S.A. files a request to terminate the stay of enforcement of the award.
August 26, 2025	The ad hoc Committee holds a first session by video conference.
September 9, 2025	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
September 15, 2025	The Republic of Peru files observations on Metro de Lima Línea 2, S.A.’s request to terminate the stay of enforcement of the award.
October 31, 2025	The ad hoc Committee issues a decision on the request to terminate the stay of enforcement of the award.
November 18, 2025	The Applicant files an updated request for the suspension of the proceeding.
November 25, 2025	Metro de Lima Línea 2, S.A. files observations on the Applicant’s request for the suspension of the proceeding.
January 7, 2026	The Committee issues Procedural Order No. 2 concerning the Applicant’s request for the suspension of the proceeding.
January 7, 2026	The Committee issues Procedural Order No. 2 concerning the Applicant’s request for the suspension of the proceeding.