Abstract
On 8 December 2016, an International Centre for Settlement of Investment Disputes (ICSID) tribunal chaired by Professor Andreas Bucher, with co-arbitrators Professor Pedro J. Martinez-Fraga (Claimants' appointee) and Professor Campbell McLachlan QC (Respondent's appointee), issued its award in Urbaser and CAAB v. Argentina (Award). The dispute related to a Concession Contract granted to Aguas Del Gran Buenos Aires S.A. (AGBA), a company in which Claimants were shareholders, for the provision of water and sewerage services in the Province of Greater Buenos Aires (Province). Claimants alleged that they had faced numerous obstacles created by the Province's authorities, which precluded the efficient and profitable operation of their Concession. Respondent counterclaimed that Claimants had failed to make the necessary investment in the Concession, thereby violating their obligation under international law based on the human right to water.
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