Tribunal Grants Rutas de Lima S.A.C. $7.4 million in Damages

Compass Lexecon was retained by Rutas de Lima S.A.C. (“RDL”), a highway concessionaire in Lima, Peru, in a dispute with the Metropolitan Municipality of Lima ("MML"). RDL claimed the performance on certain toll rate increases agreed to by the parties. In turn, MML requested the nullity of the contract and the disgorgement of the concessionaire’s rights, asking for the restitution of more than USD 400 million in toll revenues collected. Subsidiarily, MML made a counterclaim for a breach of the concession’s economic equilibrium for more than $180 million.

The Tribunal dismissed the merits of MML’s nullity counterclaim and granted RDL $7.4 million in damages for MML’s failure to implement toll rate increases and. The Tribunal relied on the valuation of Compass Lexecon expert Marcelo Schoeters and Ariel Medvedeff, which was approximately 91% of damages claimed by RDL (the difference being related to technical issues).

Additionally, economic arguments developed by Mr. Schoeters and Mr. Medvedeff regarding the concession’s risk allocation, regulatory pricing, and profitability scheme led to the Tribunal’s

finding that there was no breach of the economic equilibrium of the concession.

Compass Lexecon’s experts were supported by Ariel Seidenfeld and Juan Garcia. Compass Lexecon worked with a legal team led by Jonathan Hamilton and Rafael Llano of White & Case and Maria del Carmen Tovar and Javier Tovar of Estudio Echecopar (Peru).