Brookfield Asset Management Inc. is pursuing $2.7 billion in arbitration against Peru, claiming illegal expropriation of toll roads they operate in Lima. The dispute involves alleged city actions that have hindered toll collection, with previous legal orders for the city to pay $200 million remaining unpaid. The city’s counterclaims allege bribery related to the toll road concession, which Brookfield denies.
Brookfield Asset Management Inc. has initiated arbitration against the government of Peru, claiming the illegal expropriation of its toll roads, known as Rutas de Lima, located in Lima. This arbitration seeks $2.7 billion in damages due to actions taken by the city to obstruct Brookfield’s ability to collect tolls. The legal action falls under the provisions of the free trade agreement between Peru and Canada.
In conclusion, the arbitration filed by Brookfield represents a significant development in a prolonged dispute over toll road operations in Peru. With a demand for substantial damages and the city’s past legal troubles regarding this matter, the outcome may impact local governance and potentially the political landscape in Lima.
Original Source: financialpost.com
