Gramercy Funds Management LLC and Gramercy Peru Holdings LLC, incorporated in Delaware, filed a claim against the Government of Peru relating to measures allegedly taken by the government and its courts to diminish the value of agrarian reform bonds that the Claimants purchased from Peruvian bondholders between 2006 and 2009. The Claimants allege that Peru has violated Articles 10.3 (National Treatment), 10.4 (Minimum Standard of Treatment) and 10.7 (Expropriation) of the United States-Peru Trade Promotion Agreement.