CMS Gas Transmission Company v Argentina, Award, ICSID Case No ARB/01/8, IIC 65 (2005), 25th April 2005, despatched 12th May 2005, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]
Whether Argentina’s measures violated the substantive standards of the US/Argentina BIT (‘BIT’).
Whether Argentina could rely on the necessity defence under customary international law to relieve itself of responsibility for its violations of the BIT.
Whether Argentina could rely on Article XI of the BIT (the emergency clause) to relieve it of responsibility for its violations of the BIT.
What the most appropriate standard of valuation was for breaches other than expropriation under the BIT.