Peru seeks US$ 4 million in security for costs from Kaloti Metals and the suspension of its ICSID Claim

Dean Ehrlich -

On 5 August 2022, together with the submission of its Memorial on Jurisdiction and Counter-Memorial on Merits, Peru sought US$ 4 million in security for costs from US based Kaloti Metals & Logistics LLC, together with a suspension of the proceedings in Kaloti Metals & Logistics, LLC v. Republic of Peru (ICSID Case No. ARB/21/29) – unless the security is furnished within 30 days.