We represent MAR ANDINO PERÚ S.A.C, in which the majority shareholder is the Chilean company, Mar Andino. This company specializes in aquaculture and produces trout in an environmentally sustainable manner.
We are representing this Peruvian company in an arbitration claim filed by Peruvian Aquaculture S.A.C., or PACSAC, which involves contract termination and other related requests.
The dispute originated when Pacsac’s shares were acquired by Peruvian Andean Trout S.A.C. Pacsac had previously agreed with Mar Andino to exchange its shares in Peruvian Andean Trout for the settlement of Pacsac’s outstanding debts. Due to Pacsac’s precarious economic and financial situation, Mar Andino ended up covering Pacsac’s debts, which amounted to approximately 3 million US dollars.
Remarkably, Pacsac contended that Mar Andino had paid a mere 3 PEN (Peruvian currency) for the acquired shares, which currently equates to less than 1 USD.
In response to the claim and counterclaim, we requested USD 3,457,000.00.
The Arbitration Court effectively determined that Mar Andino had not paid only 3 PEN for the purchase of Pacsac shares. Consequently, there was no adverse impact on Pacsac, as it received an amount equivalent to 80.28% of the true value of its shares. This clearly demonstrates a significant disparity in benefits. In this regard, PACSAC’s lawsuit was deemed unfounded, marking a substantial victory for our client.
