Argentina to Pay $500 Million to Settle Pending Contract Disputes, Free Up World Bank Credits

15 Oct 2013 by OOSKAnews Correspondent

The government of Argentina will pay $500 million USD to five companies to settle cases pending at the World Bank’s International Center for Settlement of Investment Disputes and the United Nations Commission on International Trade Law (UNCITRAL).Two of the five companies that will receive payments in the pending cases work in the water and sanitation sector: Houston-based Azurix Corp., which held the concession for water and sanitation services in Buenos Aires province until 2002, and French company Vivendi whose subsidiary in the province of Tucuman, Aguas Aconquija, decided to leave the country in the mid-1990s over contract differences...

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