As the international fallout from the Odebrecht corruption scandal continues, Peru has made several reforms to its arbitration law with the aim of increasing transparency for disputes involving state entities – drawing criticism from practitioners in the region who say the measures are ill-conceived.
Peru’s new merger control legislation is a “positive” change but “lacks the institutional reform required”, local lawyers have said.
A Peruvian court has overturned pre-trial detention orders against eight arbitrators accused of taking bribes from Brazilian construction company Odebrecht, including one whose arrest prompted outcries from the international arbitration community.
A Peruvian judge has ordered the pre-trial detention of 14 arbitrators – including one who has sat at International Centre for Settlement of Investment Disputes (ICSID) – while they are investigated for allegedly taking bribes to favour scandal-hit construction company Odebrecht in a series of cases that cost the state more than US$250 million.
Peru’s competition authority has published a draft of its first guidelines on dawn raids, following the release of draft guidelines for procedures on compliance and rewards for whistleblowers.
Peru’s competition authority has released new compliance and rewards draft guidelines, marking the first time a Latin American enforcer has adopted whistleblower guidelines.
A Canadian-listed mining company has won US$34 million in a Lima-seated arbitration against a Peruvian state-owned development bank over the financing of a gold project.
Peru’s parliament has suggested combining the independent investigative and sanctioning branches of its national competition authority, in response to allegations that cases take too long to resolve.
Payet, Rey, Cauvi, Pérez Abogados in Peru has hired a partner to lead its arbitration practice.