Multiplicity of Claims under BITs and the Argentine Case
Article from: TDM 2 (2005), in BIICL Investment Treaty Forum Conference
As a result of the total collapse of Argentina's economy at the end of 2001, there has been a flood of arbitration cases brought by international investors. Basically, they have been alleging that the measures adopted by the government to cope with this crisis were tantamount to a breach of the obligations assumed by Argentina in the nineties when the country engaged in a process which could be described as ' BITmania '. Today, the total amount of these claims exceeds $16 billion - just about the annual budget of the Argentinean federal government. Having such an ...