The Treasury Procurement ensured that the International Center for Arrangement of Investment Differens (CIADI) decreases from US $ 147 million au $ 117 million, which implies saving almost US $ 30 million for the State.
The Procurement of the Nation Treasury reported that he obtained a favorable result in the defense of the interests of the Argentine Republic before CIADI, World Bank Agency. The International Court made the rectification request presented by the Argentine State on June 11 and decided to reduce the amount of the conviction by 20% in the case Webuild Spa c/ Argentine Republic.
In this way, the amount of compensation is reduced from US $ 147 million au $ 117 million, which translates into a saving of almost US 30 million for the public treasury, equivalent to about 42,000 million pesos to the official exchange rate.
A conflict that crawls from the 2001 crisis
The litigation has its origin in the granting of the Rosario -Victoria road connection, which was managed by the Puentes del Litoral SA company, of which the Italian construction company Webuild (former Salini Impregil) was a shareholder in 26%.
The 2001 crisis resulted in the dissolution of the concessionaire and in the opening of an international arbitration, in which the company claimed due to lack of payment of subsidies, regulatory changes that affected toll income and delays in the renegotiation of a 25 -year concession contract.
In a statement, the Treasury procurement stressed that this result “represents a specific step in improving the country’s position against inherited claims” and reaffirmed its commitment to “use all the legal tools available to reduce the impact of sentences and protect the common heritage of Argentines.”
Treasury procurement
Other ongoing international judgments
Argentina continues to face multiple demands in international courts. In June, CIADI condemned the country to pay US $ 715.9 million to the AES Corporation company for the pesification of contracts of the Alicurá Hydroelectric Dam. In addition, there are six other active cases in the ICADI that total around US $ 1,500 million, not counting the trial for the expropriation of YPF, in which Burford Capital claims more than US $ 18,000 million.
Source: Ambito
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