Sidley obtained an outstanding result on behalf of the firm’s longtime client, the Republic of Peru, in an ICSID arbitration brought by construction contractor Autopista del Norte S.A.C. (AUNOR) over delays in a project to upgrade a stretch of the Pan-American Highway.
In its final award, the ICSID tribunal awarded AUNOR just 5% of the more than US$150 million in damages it had claimed for alleged cost overruns incurred by AUNOR and its subcontractor, OHL Construcción. The case had been filed under a concession contract.
The Sidley team was led by partners Marinn Carlson and Jennifer Haworth McCandless and included senior managing associates María Carolina Durán and Courtney Hikawa.