Suez, Sociedad General de Aguas de Barcelona S.A., and InterAguas Servicios Integrales del Agua S.A. v. The Argentine Republic, ICSID Case No. ARB/03/17 (France/Argentina and Spain/Argentina BITs), Decision on Liability
On 17 April 2003, the International Centre for Settlement of Investment Disputes (“ICSID” or “the Centre”) received a Request for Arbitration (“the Request”) against the Argentine Republic (“the Respondent” or “Argentina”) from Aguas Provinciales de Santa Fe S.A. (“APSF”), Suez, Sociedad General de Aguas de Barcelona S.A. (“AGBAR”) and InterAgua Servicios Integrales del Agua S.A. (“InterAgua”), (together, “the Claimants”). APSF was a company incorporated in Argentina. Suez, incorporated in France, and AGBAR and InterAgua, both incorporated in Spain, are major shareholders in APSF. The Request concerned the Claimants’ investments in a concession for water distribution and waste water treatment in the Argentine Province of Santa Fe and a series of alleged acts and omissions by Argentina, including Argentina’s alleged failure or refusal to apply previously agreed adjustments to the tariff calculation and adjustment mechanisms.