ICSID Arbitration And BITs Challenged By the Argentine Government

The clear possibility of Argentina loosing in the majority of the current more than thirty arbitration cases filed before ICSID has moved the Government to build a two tier strategy of defense. One line of action is being developed at the local Federal Supreme Court level by a decision in a local case that has broaden the possibility of judicial review of arbitral awards. Another at political level by challenging the validity of the BIT arbitration clauses and of ICSID jurisdiction in the media and by introducing legislation changing the legal framework for privatized concessions of public services prohibiting in the future the submission of disputes under contracts to foreign jurisdiction.