CIT Group v. Argentina CIT Group Inc. v. Argentine Republic (ICSID Case No. ARB/04/9)
United States of America
Portfolio investment held by local subsidiary that had entered into numerous commercial leasing agreements.
Claims arising out of the alleged negative impacts that the government's mandatory pesification, undertaken by Argentina in its 2001-2002 economic crisis, had upon hundreds of commercial leasing agreements concluded by claimant's subsidiary and third parties, dismantling the foreign exchange financing component of CIT's investment strategy.
Tertiary: K - Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Dupuy, P.-M.
von Wobeser, C.
Tomuschat, C.
Decision on Jurisdiction dated 2 April 2007
Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 12 May 2009, pursuant to ICSID Arbitration Rule 44
124.00 mln USD
Data not available
Indirect expropriation

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

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability