Summary

Source: icsid.worldbank.org

Claimants' Notice of Intent to Commence Arbitration Under United States - Peru Trade Promotion Agreement

Pursuant to Article 10.16(2) of the United States-Peru Trade Promotion Agreement ("TPA") that was signed on April 12, 2006 and entered into force on February 1, 2009, we write to provide a Notice of Intent to submit to arbitration against the Republic of Peru ("Respondent") claims arising out of Claimants' investments in Dunas Energía S.A.A. and Electro Dunas S.A.A., the latter of which holds a concession for the distribution and commercialization of electricity in the southern-mid regions of Peru. The nature of Claimants' dispute with Peru is outlined below.

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IV. Damages Suffered by Claimants and Relief Sought

Peru's unlawful conduct has deprived Claimants of access to and use of the funds held by SUNAT for four years while proceedings remain unjustifiably and improperly stalled. As a result, Claimants request that Peru pay S/ 142,011,902 plus applicable interest and other amounts to fully compensate Claimants for the four years of unjustifiable, arbitrary and abusive conduct of SUNAT.

V. Intent to Arbitrate

Claimants wish to resolve their dispute with Peru amicably. Under the TPA, if no agreement is reached, Claimants notify Peru of their intention to submit the claim to arbitration pursuant to Article 10.16.

Claimants also are attempting to resolve the dispute in accordance with the process established in Article 22.3(6) of the TPA. In doing so, Claimants have, simultaneous to the submission of this Notice of Intent, referred the details of their expropriation claim to the competent authorities set out in Annex 22.3.

Claimants reserve their right to supplement or amend their requested reliefat the time that it may institute formal arbitration proceedings against Peru.

Dated: November 24, 2023

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