Search for:
Category

Peru

Category

A. LEGISLATION AND RULES A.1       Legislation International arbitration in Peru continues to be governed by Legislative Decree No. 1071 of 2008, based on the UNCITRAL Model Law (the 1985 Model Law with its amendments in 2006), the Urgency Decree No. 020-2020 which modified some articles of the Legislative Decree No. 1071 related to arbitrations where the Republic of Peru (“State”) is a party, and the New York Convention. Regarding the Urgency Decree No. 020-2020 adopted…

The much awaited text of the TPP has been released. As anticipated, the Investment Chapter (Chapter 9) sets out protections for investors of each TPP State and the mechanism for investors to bring claims in the event a TPP State fails to comply with these protections. A summary of those protections and the investor-state dispute settlement (ISDS) mechanism is set out below. What is protected? The TPP Investment Chapter protects investments made by investors of…

Venezuela’s withdrawal from the ICSID Convention does not prevent foreign investors from relying on other mechanisms in order to protect their rights. On 24 January 2012, the Bolivarian Republic of Venezuela formally deposited with the International Centre for Settlement of Investment Disputes (ICSID) – an international institution depending from the World Bank ‑ its “irrevocable denunciation” of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention), asserting that “Venezuela…