Repsol-YPF makes move over YPF

摘要

Spain’s Repsol-YPF has taken the first step towards legal action against Argentina for seizing control of its local unit YPF. The firm has notified Argentina of “the existence of a controversy” under a bilateral investment treaty that could lead to an arbitration proceeding before the World Bank’s Icsid tribunal. The notification gives the parties six months to try to negotiate a settlement. If the case goes to Icsid, Repsol-YPF would join a queue of 25 pending cases against Argentina.