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Sempra Energy awarded $172 million in Argentine arbitration
The International Centre for Settlement of Investment Disputes in Washington DC has awarded Sempra Energy approximately $172 million, including interest, to settle a 2002 dispute involving the company’s 43-percent ownership in two Argentine natural gas holding companies, Sodigas Pampeana and Sodigas Sur.
Vivendi wins decade-long Argentina legal battle
French media and telecoms group Vivendi said on Tuesday it had been awarded $105 million in compensation at the end of a decade-long dispute with Argentinian authorities about a former water concession.
Mexico in Mercosur ’essential’
Mexico’s entry to Mercosur is “essential,” President Néstor Kirchner insisted yesterday after a meeting with his Mexican peer Felipe Calderón in Mexico City.
Foreign investors gone wild
When Bolivian President Evo Morales took office in January 2006, he pledged to follow through on his campaign pledge to increase Bolivians’ share of revenues from their major source of foreign income, natural gas. International gas companies, however, threatened to sue. Previous Bolivian governments had signed a flurry of bilateral investment treaties that gave foreign investors the right to bypass domestic courts and file such lawsuits through international tribunals. Morales complained that these rules made him feel like a “prisoner” in the presidential palace.
Argentina, Mexico in deal to boost trade by 350 million dollars
A new accord between Argentina and Mexico has come in force as from January 1st whereby they increased to about 1,500 the number of bilateral trade products with a sliding scale that will lead to zero tariff in ten years time, Argentina`s Foreign Affairs ministry said.
US trade sanctions seek to pressure Latin America
The US government’s announcement that it will review the possibility of limiting, suspending, or withdrawing trade preferences under the General System of Preferences (GSP) to three Latin American countries—Argentina, Brazil, and Venezuela—is political pressure to make these nations participate in the model of regional integration proposed by the United States.
Azurix wins $165 million vs Argentina in latest ICSID ruling
Former Enron Corp. (ENE) water unit Azurix Corp. has been awarded $165 million against Argentina in the latest ruling on dozens of international arbitration claims brought against the country by foreign companies. A person familiar with the situation confirmed Tuesday that both parties were informed Monday of the decision by a tribunal at the International Center for the Settlement of Investment Disputes, or the ICSID.
MERCOSUR: Uruguay sues Argentina
The Southern Common Market Claims Court is hearing Uruguay’s case against Argentina due to road blocks by Argentinean citizens on international routes.
UN court allows Uruguay pulp mill project
The United Nations’ highest court has ruled that Uruguay does not have to suspend building two giant pulp mills that neighbouring Argentina says will harm the environment.
Mexico, Argentina sign extended agreement
Mexico and Argentina signed an extended trade and investment agreement Thursday increasing the number of products given preferential tariff treatment by the two countries.
South American Ministers vow to avoid TRIPS-plus measures
The Ministers of Health of ten South American countries issued a joint declaration on intellectual property committing themselves to avoid "TRIPS plus" provisions in bilateral and regional trade agreements, to facilitate the use of compulsory licensing and parallel importing and to avoid broadening the scope of patentability and the extension of patentable areas.
US ’always in the driving seat in FTA talks’
The economic strength of the United States makes it "virtually impossible" for developing nations to negotiate a fair bilateral free-trade agreement, according to Argentina’s new ambassador to Thailand.
Uruguay rejects President’s plea to halt pulp mills
Under an investment treaty signed by Uruguay and Finland in 2002, Uruguay would have to pay heavy damages if it ordered the suspension of work on the Botnia factory.
South America trade zone faces challenges
Mercosur is becoming more of a political body than a free-trade advocacy group.
US Grains Council on US-Peru FTA
"With this agreement, we are looking forward to gaining a significant portion of a market that has been dominated by Argentina in the past."
Clash of visions for Latin America
It’s Bush vs. Chavez as 33 heads of state meet Friday for Summit of the Americas.
FTAA talks divide Latin American countries
The talks on a future Free Trade Area of the Americas (FTAA) have divided Latin American states into different interest groups prior to the 4th Summit of the Americas to be held in Argentina on Nov. 4-5.
Groups to rally against Bush in Argentina
"We think his policies are totally contrary to what we want for Latin America and are promoting genocide, domination of workers and their communities and the plundering of natural resources," said Argentine labor leader Juan Gonzalez, who is heading a protest "People’s Summit" coinciding with Bush’s visit Thursday through Saturday.
Tribunal OKs treaty-shopping for better arbitration options in Gas Natural case
Another international arbitral tribunal has weighed in on the question as to whether “Most-Favored Nation” treatment offers foreign investors access to more favorable dispute resolution options found in other treaties.
Bilateral Treaties to Promote and Protect Foreign Investment within the Americas: an alternative to the FTAA
Sovereign states are the original right bearers. They have to denounce bilateral investment treaties or their most arbitrary clauses following the procedures provided, in accordance with the legal principles of democratic constitutions; to recover their legislative and jurisdictional powers, by retrieving their inherent jurisdiction which had been delegated to international foreign tribunals, allowing them to rule on the general regulatory or contractual policies of independent nations.