Total sues govt. for US$1bn losses
Bnamericas Published: Tuesday, November 11, 2003
French oil company Total is suing Argentina's government for some US$1bn in losses stemming from a freeze in public utility rates and the devaluation of the local currency, Infobae reported. Total joins about 20 other foreign companies that have presented their complaints to the World Bank's International Center for the Settlement of Investment Disputes (ICSID). Companies seeking compensation include Sempra, CMS, AES, Enron and LG&E Energy from the US, as well as European companies such as Italy's Camuzzi International, UK's BG, and Spain's Gas Natural SDG.
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