2004
Total v. Argentina Total S.A. v. Argentine Republic (ICSID Case No. ARB/04/1)
Argentina
France
Majority and minority shareholding interests in companies operating in the gas transportation, exploration and production and power generation sectors, as well as various related licences, rights, concessions and loans.
Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment.
Tertiary: D - Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Sacerdoti, G.
Álvarez, H. C.
Herrera Marcano, L.
Decided in favour of investor
940.00 mln USD
269.90 mln USD
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision upheld
Zuleta, E. (President)

Castellanos Howell, A. R. (Member)

Cheng, T. (Member)