The government canceled debts with companies that filed lawsuits in the country
The national government will pay 667 million dollars to ‘normalize debts’ with companies that filed lawsuits against the national state from the economy minister Hernan Lorenzino approved model agreement on firm ruling issued by arbitration tribunals.
This decision established through a resolution was published today in the Official Gazette .
That measure, said Economy authorities, was taken under the Convention on the Investment Disputes Settlement between States and Nationals of Other States (ICSID) and the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).
The ministry said that as a result of the agreement implemented and “the renewed commitment to investment of the companies involved, the Republic does not affect cash resources or reserves but, on the contrary, firms subscribe BAADE bonds, cash, 10 percent of the total amount claimed”.
That is, these days entered the country some $ 68 million investment commitment product.
The resolution also establishes a rebate on the amount originally claimed and the payment by domestic government bonds.