UNCITRAL tribunal rejects state’s expedited preliminary jurisdictional objections in mine pollution claim (The Renco Group v Peru)

Table of contents

• What did the tribunal decide?

Article summary

Law 360: A United Nations Commission on International Trade Law (UNCITRAL) arbitral tribunal has permitted US billionaire Ira Rennart’s Renco Group Inc to pursue investment treaty claims over environmental contamination at a smelting and refining complex in the Andes mountains of Peru, rejecting the respondent state’s argument that, inter alia, the claim violated a prescription (limitation) period contained in the underlying bilateral investment treaty. The proceedings are administered by the Permanent Court of Arbitration (PCA).