Camuzzi International S.A. v. The Argentine Republic, ICSID Case No. ARB/03/2 (Belgo/Luxembourg/Argentina BIT), Decision on Objections to Jurisdiction

Enrique Gómez-Pinzón,
Henri C. Alvarez,
Héctor Gros Espiel
May, 2005

On November 8, 2002, the International Centre for Settlement of Investment Disputes (“ICSID” or “the Centre”) received from Mr. R. Doak Bishop a Request for Arbitration under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (“ICSID Convention” or “Convention”) on behalf of Camuzzi International S.A. (“Camuzzi”) against the Argentine Republic. The request relates to disputes with the Argentine Republic regarding measures adopted by the Argentine authorities which, it is argued, have changed the general regulatory framework established for foreign investors in a way which the Claimant asserts severely affects Camuzzi’s investment in two natural gas distribution companies which together serve seven Argentine provinces. In its request, Camuzzi cites the provisions of the Treaty for the Promotion and Reciprocal Protection of Investments between Argentina and the Belgo-Luxembourg Economic Unit of 1990 (the “Bilateral Agreement on Investments” or “Treaty”).