Marval Acts as Counsel in the First Successful Enforcement of an ICSID Award Against Argentina Before Argentine Courts

Marval O’Farrell Mairal represented companies Urbaser SA and Consorcio de Aguas Bilbao Bizkaia (CABB) in the successful enforcement before Argentine courts of an award issued under the ICSID Convention.

On June 13, 2023, a Federal Court on Administrative Matters rendered a  judgment granting the enforcement of an ICSID arbitration award, which had been issued in an arbitration case filed by Urbaser and CABB in accordance with the Bilateral Investment Treaty between Argentina and Spain.

In December of 2016, the ICSID arbitral tribunal issued an award ordering Argentina to pay the legal fees and costs of the jurisdictional stage of the arbitration.

As the Republic did not comply with this, Urbaser and CABB filed in late 2021 a claim before a local court.

In June of 2023, the court granted the enforcement of the award.

The ruling recognizes that ICSID arbitral awards are equivalent to a final judgment issued by a local court, and therefore it is not necessary to submit them to the exequatur procedure. Argentina did not appeal the judgement, which made it final.

This is the first proceeding in which the enforcement of an ICSID arbitration award against Argentina is sought –and obtained– before Argentine courts.

Marval O’Farrell Mairal’s team was led by partners Ricardo Ostrower, Enrique Veramendi, and Julio César Rivera (h), together with associates Juliana La Becca and Manuela Díaz.