The San Martín de Porres University (USMP) is facing a significant legal challenge, having been sued for $5.7 million by Aircraft Solutions, a U.S.-based aircraft leasing company.
The lawsuit, filed on December 20, 2018, in the 26th Civil Court of Lima, stems from unpaid lease obligations for two aircraft. Aircraft Solutions alleges that USMP, acting as a joint and several guarantor for LC Perú, failed to meet its financial commitments. This legal action seeks to recover the $5.7 million owed, plus accrued interest.
According to Renzo Agurto, the attorney representing Aircraft Solutions, the company is pursuing USMP directly to enforce its obligations as a guarantor. “Through this action, we seek to have the USMP fulfill its obligations as a guarantor of LC Perú’s obligations in the lease agreements, which expressly allow us to demand payment of the debt directly from the USMP, regardless of any actions taken against LC Perú,” Agurto stated.
The legal proceedings come after LC Perú was declared insolvent due to a $5.7 million debt, as reported by El Comercio. The outcome of this case could have significant financial implications for the university, which holds a controlling stake in various businesses, including LC Perú.
USMP is a major shareholder in a diverse range of companies, including the airline LC Perú. This case highlights the financial interconnectedness between the university and its subsidiary.
