Cms Gas Transmission Company Vs. Government Of Argentina
I. CMS Gas Transmission Company Vs. Government of Argentina
An arbitral tribunal has ruled against Argentina in an important case arising out of that country’s recent economic crisis. The tribunal held that emergency measures adopted by the Argentine Government violated the country’s obligations under the US-Argentina Bilateral Investment Treaty (BIT). Based on these findings, the tribunal awarded a US investor, CMS an approximately US $ 130 Million in compensation. Of the approximately 34 cases brought before the International Centre for the settlement of Investment Disputes (ICSID) in connection with Argentina’s economic crisis, this is the first to yield a merit award.
The privatization: background to the disputes
Argentine Republic in 1989, jurisdiction was made on economic and public utilities as well as participation of foreign investment. Gas transportation was one of the significant sectors to be included under this reform program. The privatization of TGN, was......
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Approximate Word Count: 2605
Approximate Pages: 11 (250 words per double-spaced page)
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