We are advising ACS, a French – American Company. This arbitration proceeding was started by the Collection Operator (ACS) and Buses Operators (Transvial Lima S.A.C, Lima Vias Express S.A, Lima Bus Internacional 1 S.A., and Perú Masivo S.A) against Protransporte and the Municipality of Lima (now both called ATU).
The matter in this arbitration is the inefficiency of the Economic Formulas contained in the concession agreement contracts (Appendix 6) signed between ACS, the Buses Operators and ATU due to the legal and factual impossibility of executing them determined by the fact that the provided economic variables do not exist anymore or have not been updated to match the current reality.
Our claim is the partial unenforceability of the Twelfth Clause of the concession agreement contracts, in the point that establishes as an obligation of the operators the determination of the ticket by applying the rules of Appendix 6 of the concession contracts.
Taking this into consideration, our success possibility is notably high in this arbitration.
