On behalf of an investor, in an expropriation case predating the Economic Emergency Act in Argentina, our experts provided a report and testimony to the International Centre for Settlement of Investment Disputes (ICSID) on: estimated damages against a utility as well as the unjust enrichment on the part of the government; compensation due to the investors in the utility; and important economic principles to apply under the BIT claim at ICSID.

As a result of the Economic Emergency Act of 2002 in Argentina that froze regulated prices and caused utilities to default on their debt obligations, our experts developed financial models for claimants’ counsel demonstrating that the default of an electric utility was the result of the changes introduced unilaterally by the Government of Argentina in the concession contracts. After filing at the London Court of International Arbitration (LCIA), the cases were settled favorably for the claimants.

In an ad hoc tribunal, our experts supported a private arbitration of a political risk insurance (PRI) policy between investment banks and insurance companies on behalf of the investment banks (claimants). The claimants requested payment as a result of government actions in Argentina that caused the default of a highway operator on its debt obligations. After our experts prepared testimony, the ad hoc tribunal decided to award the claimant 100 percent of the payment determined in the policy.