OHLA - comment
Disputes over contracts are part of OHLA’s business, and Peru has a long history of cancelling contracts for flimsy reasons. Any settlement amount paid to OHLA will be significantly below the €289m claimed; we would be surprised to see it exceed €30m. As the initial arbitration is held in Peru, even if an award is made, obtaining payment from the Peruvian government is an entirely different matter. We do not know if there is a right to appear before an independent international body, but that will take years. We will keep abreast of progress in the arbitration.