International Tribunal Opens Arbitration for the Nationalization of the Argentine Oil Company YPF
6 Articles
6 Articles
International Tribunal opens arbitration for the nationalization of the Argentine oil company YPF
This new claim to the Ciadi comes after the favorable ruling that the Argentine State achieved in March.The process could take between five and 10 years.There, Argentina has a negative record, with 85% of the lawsuits with judgments against it.
The International Center for Settlement of Investment Disputes (Ciadi), a court that reports to the World Bank, opened at the request of the British firm Burford Capital an arbitration process for the nationalization in 2012 of the Argentine oil company YPF. Sources of the Treasury Procurement - the body of lawyers of the Argentine State- consulted by EFE confirmed that the Ciadi notified on Wednesday the beginning of the arbitration. "The team …
The World Bank's arbitral body gave rise to Burford Capital's request to deal with the case of the expropriation of the oil company.
The fund initiated an arbitration on behalf of Petersen after the setback in New York. The court will take 90 days to settle and the trial may take years.
They filed a complaint in the Ciadi to intervene in the case for the expropriation of the oil company. The Treasury Office has already been notified and prepares its defense.
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