The Financial Post reports in its Thursday edition that Brookfield Asset Management was banking on years of steady profits when it took over three toll roads in fast-growing Lima, Peru. A Bloomberg dispatch to the Post says instead, it stumbled into a political minefield. The tolls spawned public protests over the costs to Lima residents, corruption charges against a local official, and disputes between Brookfield and both the country and its capital city. At present, a populist mayor nicknamed Porky has made killing the toll contract his singular goal, and Brookfield's latest arbitration ruled that Peru illegally seized the roads. Known as Rutas de Lima, Brookfield's project is blocked from collecting key tolls, losing money by the day and at risk of near-term default. Whether Brookfield's investors salvage a decent return or suffer steep losses may come down to the courts. The company in its new arbitration against Peru is seeking $2.7-billion (U.S.), which Brookfield says is the enterprise value of the project. The ordeal is a cautionary tale for investors that eye projects in developing economies. Still, officials in Peru said the dispute has not deterred other investors and that the courts will handle the dispute.