Legitimate Regulation vs Regulatory Expropriation in Public Infrastructure Investments after Azurix: A Case Study
Article from: TDM 2 (2007), in Infrastructure Investment & Dispute Management
Azurix v. Argentina represents the first case in which and international arbitral tribunal decided on the merit of a disputed water privatization. The dispute was brought about by the US-based water firm Azurix , which sought compensation for losses related to measures adopted by the Buenos Aires Province. The ICSID Tribunal was required to deal with a number of highly controversial issues. This comment focuses on the expropriation claim put forward by Azurix and it analyses the multi-factor approach adopted by the Tribunal to complement the international doctrine on ...