Mealey's Litigation Procedure - ICSID Committee Refuses To Annul $21 Million Award For Italian Company

Mealey's Litigation Procedure - ICSID Committee Refuses To Annul $21 Million Award For Italian Company

WASHINGTON, D.C. - An ad hoc committee on Jan. 24 denied a request by the Argentine Republic to annul a $21,294,000 award issued in favor of an Italian investor, finding that the tribunal did not exceed its powers and that the tribunal gave its reasons for making the award (Impregilo S.p.A v. Argentine Republic, No. ARB/07/17, ICSID).

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