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Azurix v. Argentina involved a U.S. company’s successful bid for privatization of an Argentinean company, owned and operated by the Province of Buenos Aires, which was in charge of providing potable water and sewage services in the Province. In 1999, Azurix, through its Argentinean subsidiary, ABA, paid the Province a Canon payment of approximately US$438.5 million, in exchange for a 30-year concession. Over the next several years, Azurix made additional capital contributions to ABA of almost US$113 million
A U.S. District Court has denied the Republic of Argentina’s motion to vacate a $185 million dollar arbitration award in favor of a British investor in Argentinean gas distribution
