Compass Lexecon’s Client Successfully Settles Airport Arbitration Dispute in Bolivia

Compass Lexecon’s expert Marcelo Schoeters was retained by Abertis Infraestructuras S.A. to provide expert testimony on the economic impact of a number of regulatory measures undertaken by the Plurinational State of Bolivia, which ultimately led to the nationalization of Servicios de Aeropuertos Bolivianos S.A. (“SABSA”). SABSA held concession rights to operate Bolivia’s three main airports in the cities of La Paz, Santa Cruz and Cochabamba

The dispute involved claims that SABSA had been treated unfairly by Bolivian regulators since 2011, ultimately leading to its nationalization in 2013. Mr. Schoeters provided expert testimony in relation to the quantification of damages suffered by Claimant using two methodologies: a discounted cash flow (“DCF”) approach and a relative valuation approach. Mr. Schoeters also provided oral testimony before a Permanent Court of Arbitration Tribunal in December 2015, which was held under UNCITRAL rules. A settlement for approximately $23 million was announced on May 11, 2017, before an award was rendered by the Tribunal.

Marcelo Schoeters and external consultant Andres Ricover, acting as co-expert, were assisted by a team of professionals from Compass Lexecon’s Buenos Aires and London offices, including Julian Delamer, Ariel Medvedeff and Federico Gonzalez Loray. Abertis was represented by Ignacio Suárez Anzorena of Clifford Chance.