Lanco International, Inc. v. Argentine Republic
International Centre for Settlement of Investment Disputes
40 I.L.M. 457 (1998)
Lanco (plaintiff) was a shareholder of a corporation that won a bid to Argentina (defendant) to construct a port terminal. The agreement included a forum-selection clause setting jurisdiction in an Argentine tribunal. A dispute arose between Lanco and Argentina, which Lanco made Argentina aware of by letter in March 1997. In September 1997, Lanco wrote to Argentina consenting to arbitration by the International Centre for Settlement of Investment Disputes (ICSID) under the Argentina-U.S. Treaty (the Treaty), a bilateral investment treaty. Argentina contended that ICSID lacked jurisdiction because of the forum-selection clause in the agreement. The ICSID tribunal addressed whether it had jurisdiction over the dispute.
Rule of Law
Holding and Reasoning
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