2003
Continental Casualty v. Argentina Continental Casualty Company v. Argentine Republic (ICSID Case No. ARB/03/9)
Argentina
United States of America
Ownership of insurance company incorporated in Argentina maintaining a portfolio of investment securities.
Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment and frustrated the investor's ability to hedge against the risk of the devaluation of the pesos.
Tertiary: K - Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Sacerdoti, G.
Veeder, V. V.
Lauterpacht, E. (replaced)
Nader, M.
Decided in favour of investor
114.00 mln USD
2.80 mln USD
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Transfer of funds
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims