Committee Orders Argentina To Place $75M In Escrow, Extends Stay Of Enforcement
WASHINGTON, D.C. - An ad hoc committee on March 5 ordered that the stay of enforcement of an arbitration award given by the International Centre for Settlement of Investment Disputes (ICSID) will continue if the Argentine Republic places $75 million in an escrow account, which will be collectible by a natural gas distribution company in partial discharge of Argentina's obligation under the award against it (Sempra Energy International v. Argentine Republic, No. ARB/02/16, ICSID; See October 2007, Page 15). Full story on lexis.comFiled by admin at March 31st, 2009 under News