Peruvian government in arbitration with electricity distributors EDELNOR

Payet Rey Cauvi Abogados is representing EDELNOR, one of Peru´s main electricity distribution companies, in arbitration proceedings with the Peruvian government in relation to a dispute over the terms of a legal stability agreement. EDELNOR claims that new rules for the tax depreciation of assets passed by the Government in 1998 are not applicable to the company because of the tax stability guaranteed by the legal stability agreement it executed with the Republic in 1996.