In response to Webuild’s complaint filed in September 2021, Argentina argued that the claims, including interest, were barred by the applicable statute of limitations. However, in a November 19 order, U.S. District Judge Reggie B. Walton rejected this defense, ruling that the 12-year statute of limitations applied to the enforcement of ICSID awards, not the three-year period argued by Argentina.
Judge Walton’s decision aligns with two prior rulings from Washington, D.C. and New York federal courts involving Argentina. These courts determined that the most appropriate statute of limitations for enforcing ICSID awards is that which applies to final judgments from other states’ courts.
The dispute itself dates back to a water and sewage service concession awarded to an international consortium, including Impregilo, in 1999. The project faced multiple issues, including difficulty collecting payments and regulatory restrictions on tariff increases. Eventually, in 2007, Impregilo initiated arbitration, which resulted in the ICSID award. The tribunal found that Argentina had violated its investment treaty with Italy by failing to treat Impregilo fairly.
