November 30, 2011
The Mealey's International Arbitration Report article, "ICSID Issues Decision on Jurisdiction in Dispute Filed Against Argentina" reported on Kelley Drye's success in establishing jurisdiction for Hochtief A.G. The article stated that Hochtief AG, a company incorporated in Germany, filed a claim for arbitration with ICSID against Argentina pursuant to the Treaty between Germany and Argentina for the promotion and reciprocal protection of investments, dated April 1991.
Hochtief's claims related to a 25-year concession it and a group of companies entered for the construction and operation of a toll road and bridges in Argentina. The tribunal rejected Argentina's argument that ICSID had no jurisdiction over the proceeding, saying it had no doubt that Hochtief was an investor under the BIT (Bi-lateral Investment Treaty).
The article noted Hochtief is represented by partners Paul F. Doyle and Philip D. Robben of Kelley Drye & Warren in New York.