Arbitral Digest

Matter

Webuild S.p.A. (formerly Salini Impregilo S.p.A.) v. Argentine Republic (ICSID Case No. ARB/15/39)

Case no.
ARB/15/39
  1. 28 April 2025Arbitration

    28 April 2025Arbitration

    Award of the Tribunal dated 28 April 2025

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that Argentina breached the fair and equitable treatment obligation under Article 2.2 of the Argentina-Italy treaty, rejected the defense of necessity, and ordered Argentina to pay USD 97,400,000 in compensation, interest, specified legal costs, and arbitration-cost reimbursement.

    Supporting details

    3 authorities · 19 participants
    Webuild S.p.A.
    Representative
    Roberto Aguirre Luzi (For: Webuild S.p.A.)
    Representative
    Craig S. Miles (For: Webuild S.p.A.)
    Representative
    Eldy Quintanilla Roche (For: Webuild S.p.A.)
    Representative
    Arturo Oropeza Casas (For: Webuild S.p.A.)
    Representative
    Juan Manuel Poggio Aguerre (For: Webuild S.p.A.)
    Argentine Republic
    Representative
    Esteban Sanchez (For: Argentine Republic)
    Representative
    King & Spalding LLP (For: Argentine Republic)
    Representative
    Santiago Maria Castro Videla (For: Argentine Republic)
    Representative
    Juan Ignacio Stampalija (For: Argentine Republic)
    Representative
    Julio Pablo Comadira (For: Argentine Republic)
    Representative
    Mariana Mabel Lozza (For: Argentine Republic)
    Representative
    Maria Alejandra Etchegorry (For: Argentine Republic)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Lucinda A. Low
    Arbitrator
    Kaj Hober
    Arbitrator
    Jurgen Kurtz
    Tribunal secretary
    Freya Baetens

    Authorities cited

    3
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, 1966)
      statute
    • Agreement between the Argentine Republic and the Republic of Italy on the Promotion and Protection of Investments (Argentina-Italy Bilateral Investment Treaty, signed 22 May 1990, entered into force 14 October 1993)
      statute
    • Argentine Emergency Law No. 25,561 (Law No. 25,561)
      statute

Matter record

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Webuild S.p.A. (formerly Salini Impregilo S.p.A.) v. Argentine Republic (ICSID Case No. ARB/15/39) · Matter