Firms To Watch: Competition and antitrust

Krause Abogados advises clients in pre-M&A procedures before the regulatory authorities and also handles administrative and judicial investigation proceedings on antitrust behaviour, including cartel investigation proceedings and antitrust practices. The practice is led by Maximiliano Augusto Krause.

Competition and antitrust in Argentina

Allende & Brea

Allende & Brea represents international companies involved in the biggest global deals in merger notification proceedings before the Argentine Antitrust Authority and also provides day-to-day support on antitrust and competition matters. High-stakes cartel cases are a particularly strong area for the practice, which also handles vertical restraint and dominance matters, and advises clients on the design of distribution systems to comply with antitrust laws. The team has an established international reputation, holding senior leadership positions at the Antitrust Committee of the International Bar Association, the Antitrust Section of the American Bar Association and the American Antitrust Institute. Julián Peña is a market reference on competition and antitrust law and leads the team. Federico Rossi, an expert in merger control proceedings, cartel investigations, dominance cases and sectoral enquiries, provides further partner-level support, with associate Luz Villalobos, who handles merger notifications, merger control proceedings and cartel investigations, leading the second line.

Responsables de la pratique:

Julián Peña


Les références

‘We have been very well advised by Julián Peña, who has demonstrated strong technical knowledge. He is engaging, always available to meet and communicates clearly.’

‘Julián Peña has strong technical knowledge and very good practical judgment.’

‘A practice that is well-versed in Argentinian antitrust law. Responsive and available.’

Principaux clients

Novartis


Enerflex


Dsm


Linde/praxair


Blackrock


Mastercard


Syngenta


Unipar


Mercedes Benz Argentina


Allkem


Firmenich


Ferrero Argentina


Galderma


Mitsubishi


Principaux dossiers


  • Represented both DSM and Firmenich in the merger notification proceedings before the Argentinean Antitrust Authority.
  • Represents Enerflex, an energy industry supplier, in the merger control notification of its acquisition of Exterran, a natural gas compression products and services business.
  • Advising Linde and Praxair on after the antitrust authority issued an objection report in various markets, requiring divestments.

Marval O’Farrell Mairal

Marval O’Farrell Mairal is sought out by multinational companies for advice on merger filings and merger notification proceedings and regularly supports clients involved in some of the most complex competition matters in Argentina. The team also works with clients in other jurisdictions, including Brazil, Chile, Bolivia, Peru and Uruguay, advising on a variety of competition, economic regulation and internal compliance matters, and frequently receives referrals from US and other international firms. Antitrust investigations are a particularly strong area, with the firm recognised for the high quality of its antitrust investigations unit. The well-resourced practice is headed by Miguel Del Pino, a market authority on competition law with more than two decades of experience handling competition and antitrust matters. Partner Santiago del Rio is also fully dedicated to competition law and has been particularly active in high-value competition cases. At the associate level, the experienced Gabriela Ariel Irizar  (litigation, antirust, cartel investigations) and Ignacio Mora (complex competition matters) are the main points of contact.

Responsables de la pratique:

Miguel Del Pino


Les références

‘I consider Miguel Del Pino and Ariel Irizar to be excellent professionals in their area of ​​expertise and I fully trust their advice. The best qualities, in addition to their experience, are dedication and quick responses to any queries.’

‘The team has in-depth technical knowledge and aligns with client goals and challenges. They have the ability to perform strategic analysis and anticipate different scenarios.’

‘The team adopts a unique strategic approach and creativity in problem-solving. There is a willingness to stay up-to-date and adapt to legal and regulatory changes.’

Principaux dossiers


  • Advising Discovery/WarnerMedia in merger control proceedings.
  • Advising on the negotiation of remedies in the Avon Natura merger control proceedings.
  • Advising Glencore on two merger transactions under the approval of the Antitrust Commission.

Beccar Varela

Beccar Varela handles complex cartel and abuse of dominance investigations, as well as merger control, counselling, compliance and litigation matters. The practice advises on competition law issues across a range of industries and is particularly sought out for its expertise in antitrust investigations and settlements, where it has built a strong track record. Agustín Waisman has deep experience across competition, antitrust, consumer protection and gaming law and co-leads the practice alongside Augusto Vechio, a well-known international trade and customs lawyer whose experience also spans consumer protection, competition and antitrust law. The senior leadership team is well supported by an accomplished bench of associates, including Camila Corvalán (antitrust, unfair competition, consumer defence, public affairs), antitrust practitioner Mercedes Pando, and Tomás López Bisso, who handles antitrust and consumer protection matters.

Responsables de la pratique:

Agustín Waisman; Augusto Vechio


Les références

‘The Beccar Varela team always presents a 360-degree view of a business that allows clients to anticipate and mitigate problems.’

‘The team is available at all times to answer queries and provide personalised follow-up.’

Principaux clients

FEMSA (Coca Cola Argentina)


Meta


WhatsApp


Amazon


Samsung


Unilever


Raízen (Shell Argentina)


Kimberly Clark


GlaxoSmithKline


Boehringer Ingelheim


Principaux dossiers


  • Advised Pan American Silver Corp on the competition strategy and merger control filing related to the acquisition of Yamana Gold.
  • Advising a number of Meta entities in an alleged abuse of dominance matter before the Argentine Competition Commission.
  • Advising Unilever on the competition strategy and filing before the Argentine Competition Commission following the acquisition of a logistics park.

Bomchil

One of the first firms to launch a dedicated competition and antitrust practice at the turn of the century, Bomchil has extensive experience across the fields of merger controls, anti-competitive practices and sensitive cartel investigations. The team, which is comprised of a merger control and investigations unit and a general advice and compliance arm, supports companies across a wide range of industries on competition law matters, and works closely with the firm’s administrative law and dispute resolution departments to offer a comprehensive service that includes advice on related regulatory and litigation matters. The practice is led by the exceptional Marcelo den Toom, a vastly experienced and respected competition lawyer. Further partner support comes from TMT expert Francisco Gutiérrez and Fernando Brunelli, a veteran in natural resources and energy law. Godofredo Ortiz has left the firm and taken up a position with Tanoira Cassagne Abogados.

Responsables de la pratique:

Marcelo den Toom


Les références

‘The team is always available and able to work on complex matters with a few days’ notice.’

‘Lawyers with expertise in the matter, providing comprehensive and complete  counsel.’

‘Amazingly responsive and sophisticated. They deliver the best value for money and have vast experience.’

Principaux clients

Air Products & Chemicals


Apollo Global Management


Amex


Astra Zeneca


AT&T


Banco de Galicia y Buenos Aires


Biosidus


Carrefour


Chevron


Corteva


Grupo Corporación América


Grupo L


Helport


Holcim


Imagen Satelital


JCR


Maersk


Mijovi


Nutrien


Oaktree


Panedile


Participaciones Médicas


PepsiCo


Rutas del Litoral


Saint-Gobain


Savencia


Schneider Electric


Stine Seeds


WarnerMedia


Principaux dossiers


  • Advising Banco Galicia on a complaint from antitrust authorities related to alleged cartel activity.
  • Advising Holcim on a complex price discrimination investigation in the cement market in Argentina.
  • Advising seven construction companies on bid rigging allegations in a significant cartel investigation.

De Dios & Goyena

De Dios & Goyena is a competition and antitrust boutique with a long track record of advising local and international clients on the competition aspects of large cross-border acquisitions, executing regulatory remedies and providing representation in proceedings before antitrust authorities. The team is also called on to assist with the implementation of antitrust compliance rules and the antitrust compliance training programmes in Argentina, Brazil, Chile, Uruguay, Perú and Colombia. Outstanding competition law veteran Miguel De Dios leads the practice alongside partner Federico Volujewicz, a former competition agency official who is known for his work developing antitrust compliance schemes. Experienced senior associate Juan Martín Salvadores de Arzuaga, who works on high-profile merger control cases, leads the second line.

Responsables de la pratique:

Miguel Angel De Dios; Federico Adrián Volujewicz


Les références

‘Miguel Ángel De Dios is one of the main Argentine authorities on antitrust and competition law. The firm’s practice in this matter is characterised by the total technical solidity of the team.’

‘Impeccable service and advice.’

‘It is strong in competition defence and has a very successful track record of cases regarding anti-competitive practices.’

Principaux clients

The Walt Disney Company


Whirlpool Argentina


Pluspetrol


Grupo Tigre


Teleperformance


International Flavors & Fragrances


Consejo Profesional de Ciencias Económicas


SIGSA Argentina


Acerbrag


Veolia Water Technologies


Principaux dossiers


  • Advised The Walt Disney Company in Argentina, regarding the acquisition of 21st Century Fox and the divestment of Fox Sports channels in Argentina, to comply with the behavioural remedies ordered by Argentina’s Competition Agency
  • Advise Whirlpool on the development of different business initiatives and represent the company before Argentina’s Competition Agency in different procedures.
  • Advise to several clients in antitrust compliance and training issues.

Pérez Alati, Grondona, Benites & Arntsen

Pérez Alati, Grondona, Benites & Arntsen is regularly sought out by domestic and international clients for support in antitrust filings and proceedings with Argentine antitrust regulators, as well as in litigation related to competition and antitrust cases, and anti-competitive behaviour investigations. The team has represented clients in some of the most complex antitrust matters and has a track record of securing landmark antitrust rulings in highly contentious contexts, including through litigation and injunctive relief. Other active areas include representing clients in price fixing and cartel investigations and the provision of general advice on competition and antitrust regulations. The practice is headed by the impressive and highly respected Luis Barry, whose practice covers antitrust, competition, product liability and consumer law. He is supported by a capable roster of dedicated antitrust and competition lawyers, including María Carolina Abdelnabe Vila, who was raised to the partnership in 2023 and handles consumer protection, fair trade, data protection, product liability and legal technology matters; counsel Clara Rodriguez Llanos, a specialist in competition, antitrust, fair trade law and product liability; and associate Sonia Del Regno, who has been noted for her work in complex merger control cases.

Responsables de la pratique:

Luis Barry


Les références

‘A pragmatic and responsive team.’

‘Sonia del Regno is excellent. Responsive and clear.’

‘They have experience and deep knowledge of the subject. Thanks to their advice we have been successful in all the issues involved.’

Principaux clients

American Airlines


Fiat Chrysler Automobiles


Ferring International Center


Puma Sports


Evonik Industries


Linde


Gestamp Automoción


Mercedes-Benz Camiones y Buses Argentina


Dow Group


Honda Motor de Argentina


Principaux dossiers


  • Advising Linde after a merger between Linde and Praxair was challenged by regulatory authorities.
  • Successfully advised Fiat Chrysler Automobiles on its merger with Peugeot to create Stellantis, the fourth largest automotive group in the world.
  • Advising American Airlines in the acquisition of a minority stake (35%) in JetSMART Holdings Limited.

Baker McKenzie

Clients turn to Baker McKenzie for transaction approval support, with the firm well-known for coordinating timely and successful applications across multiple jurisdictions. The team also handles civil and criminal antitrust litigation; cartel investigations and defence; and assists clients with antitrust compliance and training. The practice is led by well-known antitrust and international trade practitioner Esteban Rópolo, with banking and finance partner Francisco Fernández Rostello called in for support when required.

Responsables de la pratique:

Esteban Ropolo


Les références

‘The antitrust team shows an understanding of the context and the particular circumstances of the company when providing advice.’

Principaux clients

Chr. Hansen


Procter & Gamble


Cámara de Industriales Molineros


Biogen


Colgate Palmolive


HP Inc


Ingredion


Principaux dossiers


  • Advising Chr Hansen in the filing of its merger with Novozymes. This is the local tranche of a multi-jurisdictional merger that has included the implementation of divestment measures in several jurisdictions.
  • Representing Cámara de Industriales Molineros in an appeal against a fine imposed by the Competition Commission in a cartel investigation of the wheat milling market.
  • Advising Procter & Gamble on general issues of antitrust compliance, including resale price maintenance, exclusivities and other vertical restraints.

Bruchou & Funes de Rioja

Bruchou & Funes de Rioja is best known for its work in merger control and conduct investigations, with the team frequently called on to advise on notifications of economic concentrations, conduct cases, market investigations, merger controls and cartel issues. Day-to-day advice on competition law matters is also covered, including maximum pricing, distribution agreements, training and preventative advice. The practice is led by dedicated competition law specialist Gabriel Lozano, who is well-known for his merger controls and investigations experience.

Responsables de la pratique:

Gabriel Lozano


Les références

‘Gabriel Lozano and his team have been agile, attentive and appropriate to the demands and responses that were required.’

‘The firm stands out for its experience, practical solutions and ability to handle complex transactions. Gabriel Lozano is an excellent professional.’

‘The team and practice head Gabriel Lozano are excellent. No abstract and technical answers. They are very practical and decisive.’

Principaux clients

Central Puerto


Compass Group


Banco Macro


Regency Group


Banco Santander


Arcor


Vista Energy Argentina


Minera Andina del Sol


Minera Argentina


Coca Cola FEMSA


Laboratorios Bagó


Laboratorio Elea


YPF


Prosegur


Gire


PlusPetrol


Principaux dossiers


  • Advising Central Puerto on the antitrust filings regarding its acquisition of strategic power thermal generation company Enel Generación Costanera.
  • Advising Banco Macro on the antitrust filing regarding the acquisition of Banco Itaú Argentina, including its banking, asset manager and brokerage activities.
  • Advising Hidrovía a high-profile cartel case.

Mitrani Caballero & Ruiz Moreno Abogados

Mitrani Caballero & Ruiz Moreno Abogados handles significant merger clearance proceedings and sensitive cartel investigations for local and international clients and is particularly well-known for its work on complex, cross-border deals that span multiple jurisdictions. The team also provides advice on commercial behaviour, compliance programmes, internal investigations and the implementation of measures to prevent anticompetitive practices. Well-regarded corporate lawyer Aixa Sureda has extensive experience in merger controls and market investigations and co-leads the practice with Cristian Mitrani, who has counselled on competition law infringement cases, internal investigations and the recovery of damages for antitrust violations during his long career. Senior counsel Evangelina González Soldo specialises in M&A, antitrust and competition law and provides further support.

Responsables de la pratique:

Cristian Mitrani; Aixa Sureda


Les références

‘The team has the ability to handle complex antitrust matters. Extensive experience and the ability to respond and resolve queries quickly.’

Principaux clients

Bunge


Molinos Río de la Plata


Molinos Agro


Grupo Perez Companc


Tenaris


Adium Pharma


Japan Tobacco International


Asociart A.R.T.


Grupo Cepas


Livent – Minera del Altiplano


Knight Therapeuticals


Raízen


Principaux dossiers


  • Advised Bunge on antitrust analysis in Argentina of the business combination between Bunge, Viterra and certain affiliates from Glencore.
  • Advised Adium Pharma on merger clearance in Argentina of Adium´s acquisition of a range of Takeda Pharmaceutical International’s product portfolio in Argentina.
  • Advised Bunge on merger clearance in Argentina on the acquisition by Koninklijke Bunge.

O'Farrell

O'Farrell‘s multidisciplinary antitrust and competition practice draws on expertise from the firm’s M&A and public law teams to provide clients with comprehensive market analysis and advice on competition law matters. Telecoms is a key area of focus, with the team leveraging its specialist sector expertise to provide detailed support on the antitrust and competition themes impacting the sector. The firm also offers industry-specific advice to clients operating in other regulated sectors, including energy, utilities and infrastructure. The practice is led by experienced telecoms and energy partner Agustín Siboldi, with fellow partner Agustina Fanelli Evans providing key support on antitrust litigation, and associate Rebeca Fernández covering issues related to economic concentration and business structuring.

Responsables de la pratique:

Agustin Siboldi


Les références

‘The team understands specific industry dynamics and adapts strategies to these environments as required. They are experts at the intersection of law and industry.’

‘O’Farrell provides quality advice and in-depth analysis of the issues. In addition, they are available when an issue needs to be addressed with urgency and priority. They are organised and reliable.’

‘Agustín Siboldi provides quality support and analyses topics in depth. He knows the industry and his advice helps us to evaluate alternatives, risks and to make informed decisions.’

Principaux clients

CABASE – Cámara Argentina de Internet


Villa María City´s (Córdoba) gas stations


Ford Argentina


Total


Amarillas Gas y Cañuelas Gas


YPF Energía Eléctrica


Claro Argentina


Axion Argentina


Universidad del Pacífico – Facultad de Derecho


Huawei


Latinoamericana de Energía


ENAEX


American Tower


Principaux dossiers


  • Advised Cabase on a claim against TYC Sports for indirect refusal to deal in connection with the assignment of content from the 2022 FIFA World Cup.
  • Advising a group of filling stations on an investigation into an alleged cartel.
  • Advise Ford Argentina on a wide range of day-to-day competition and antitrust matters.

Salaverri, Burgio & Wetzler Malbran

Salaverri, Burgio & Wetzler Malbran is known for providing antitrust analysis and filings for M&A deals it advises on, with the team often called on to act as sole Argentine antitrust counsel on complex multi-jurisdictional transactions. Corporate lawyer Tomás Arnaude covers antitrust, corporate and M&A matters and leads the team. Elena Sozzani has departed to take up a role in-house.

Responsables de la pratique:

Tomás Arnaude


Principaux clients

Pampa Energía


Grupo ST


Principaux dossiers


  • Counsel to Pampa Energía on the financing for the acquisition of the goodwill of the Barragán thermal power plant from Integración Energética Argentina, which included further clearance and mandatory antitrust filings with the Argentine Antitrust Authority.
  • Counsel to Pampa Energía on the antitrust aspects of an asset swap deal involving Greenwind Energy and Total Austral.
  • Counsel to GST in the acquisition of Cardif Seguros and Cardif Servicios and the further clearance and mandatory antitrust filing with the Argentine Antitrust Authority.

Wiener Soto Caparrós

Wiener Soto Caparrós provides antitrust and merger control advice to clients in diverse industries, with merger controls, government investigations, unlawful competition restraints, complex antitrust litigation and risk management advisory work all covered. The team is also known for implementing in-house antitrust training programmes and drafting industry-specific compliance manuals for clients. The practice is led by the experienced Mariela Del Carmen Caparros, a widely respected antitrust veteran who has worked on complex, high-stakes cartel investigations and is regularly invited to speak at global antitrust and competition law conferences.

Responsables de la pratique:

Mariela del Carmen Caparrós


Les références

‘The team has excellent technical skills and knowledge of international developments. It applies its expertise in a practical way that is relevant to the nuances of each market that a client is operating in.’

‘The team understands the practical application of current regulations. They do not simply apply regulations and always consider the client’s reality.’

Principaux clients

Coca-Cola Andina Argentina


RAGT Seeds


Maxiconsumo


McCain Argentina


Jones Day


Geely Automobile


KWS SAAT


Principaux dossiers


  • Assisted Maxiconsumo in navigating the different resolutions issued by the National Government in connection with the “Shelf Law”, as well as advising the client on its effects on their business.
  • Advised KWS on the antitrust implications of establishing a commission agency scheme for the sale of their specialised seeds, and the corresponding customized herbicide products of Bayer in Argentina.
  • Advised Geely on the antitrust aspects of its 50/50 joint venture deal with Renault Group.

Brons & Salas

Brons & Salas defends mergers before antitrust authorities, advises clients on merger controls, and advises on behavioural matters, compliance and training. The team, which is comprised of economists as well as lawyers, is active across a wide range of industries, including viticulture, automotive, insurance, media, advertising and pharma. The practice is led by María José Rodríguez Macías, who is active in anticompetitive practice matters as well as in developing antitrust training programmes for senior management teams.

Responsables de la pratique:

María José Rodríguez Macías


Les références

‘Expeditious response and knowledgeable.’

Principaux clients

Grupo Peñaflor


Godrej Consumer Products


Toyota Compañía Financiera de Argentina


Compañía Argentina de Levaduras


Clorox


Cook Agriculture


Discovery Communications


Praxair


Schaeffler Argentina


Kimberly Clark


Martínez de Hoz & Rueda

Merger controls and transaction filings are a focus area for Martínez de Hoz & Rueda, which assists clients with submissions before the Argentine antitrust authorities and regularly tracks the status of ongoing approval processes, advising on any necessary actions required by regulators. Experienced public law expert Juan Cruz Azzarri heads the team, and has a particularly strong oil and gas client base, regularly assisting companies in the sector before antitrust authorities.

Responsables de la pratique:

Juan Cruz Azzarri


Les références

‘Juan Cruz Azzari is experienced in antitrust defence and administrative issues in general.’

‘The team is very professional and always willing to provide a solution in a timely manner. We can work agilely and assertively with them.’

‘Very professional lawyers with knowledge of the industry and business.’

Principaux clients

ExxonMobil Exploration


Compañía General de Combustibles


DeltaPatagonia


Trafigura Group


Wintershall DEA


Patagonia Energy


Schlumberger


CAPEX


Oleoductos del Valle


Cross Capital


Principaux dossiers


  • Advised Trafigura Argentina and CAPEX in the joint notification before the Argentine antitrust authority of the execution of a joint venture agreement for the exploitation and development of a hydrocarbon block in the Province of Neuquén.
  • Currently advising CGC Energía on a mandatory notification procedure before the Argentine antitrust authority regarding an association with Equinor through the execution of a farm-out agreement for the exploration and exploitation of offshore hydrocarbon blocks.
  • Assisted Trafigura Argentina with the mandatory notification procedure before the Argentine antitrust authority regarding an association with Vista Oil & Gas through the execution of a farm out agreement for the exploitation and development of a hydrocarbon block in the Province of Neuquén.

Tanoira Cassagne Abogados

Tanoira Cassagne Abogados is best known for its expertise in antitrust and investigation work and also advises on antitrust behaviours and merger notifications, both regarding domestic and cross-border transactions. Preventative antitrust assistance is another area of focus, with the practice involved in training and developing compliance programmes. The practice is co-led by Francisco Rondoletti, who has a strong background in international trade and antitrust law, and Bernardo Cassagne, who handles important cases connected to the prior control of M&A deals and anti-competitive practices. The team recently strengthened its second line with the hires of Nahir Jalifi from Marval O’Farrell Mairal and Godofredo Ortiz, who was previously with Estudio Alegría, Buey Fernández, Fissore y Montemerlo and Bomchil.

Responsables de la pratique:

Bernardo Cassagne; Francisco Rondoletti


Les références

‘Trained and highly committed lawyers who provide excellent legal service to the client, responding promptly to queries and demonstrating complete knowledge of the matter for which they are consulted.’

‘A very prepared and trained team in matters of competition and antitrust law. They have always assisted us correctly and delivered results.’

‘Always very attentive to resolving the requirement and protecting the interests of our company.’

Principaux clients

Unilever


Mondelez


Bayer Argentina


Nestle Argentina


Saint Gobain


Coca Cola


Bridgestone


3M Argentina


Amplifon


PepsiCo Argentina


Telefónica


Remax Argentina y Uruguay


OCA Log


YPF


Vitol


Shell


Total Austral


Ledesma


Principaux dossiers


  • Assisting paper producer Ledesma following a complaint filed in 2023 by the Argentine Association of Book Industries for alleged anticompetitive practices and abusive pricing) on the paper production market.
  • Assisted Telefonica de Argentina and Telefonica Móviles Argentina in the submission of a response to a complaint filed by a group of bulk SMS service providers alleging abuse of dominant position in the market.
  • Advised Remax Argentina on matters related to an abuse of dominant position complaint involving the Associations of Public Brokers and Auctioneers of the City of Buenos Aires.

Tavarone, Rovelli, Salim & Miani

Tavarone, Rovelli, Salim & Miani‘s recently established antitrust practice focuses on pre-merger strategy analysis and merger control issues and also handles market investigations and cartel matters. The practice is led by experienced transactional lawyer Julián Razumny, who is well-versed in pre-merger analysis and controls work. Senior associate Paula Cerizola also comes from an M&A background and is closely involved with the the largest antitrust matters led by the firm.

Responsables de la pratique:

Julián Razumny


Les références

‘The team has extensive experience in the field and has the ability to address complex problems with a holistic perspective. They are clear and direct in their analysis and delivery of the work along with specific instructions on how to carry out a transaction and/or a defence strategy.’

‘Julián Razumny is the leader of the practice and also has experience in M&A issues, so his approach to any transaction already includes an approach from the point of view of antitrust. He is a very dynamic, pragmatic and business-oriented professional. Paula Cerizola is an associate with solid knowledge in the field along with vast experience.’

‘Julián Razumny stands out in the team. He is always willing to resolve any issue related to free competition matters, providing immediate responses and carrying out the risk analysis corresponding to each situation.’

Principaux clients

SCC Power Plc


Santista


Orazul Energy


Dreamco


Principaux dossiers


  • Counsel to SCC Power on filings submitted to local antitrust authorities to obtain clearance for the acquisition of the business enterprise of Stoneway Capital Corporation.
  • Advised Santista on a general market investigation initiated and conducted by the Antitrust Authority.
  • Advised Orazul Energy on the antitrust aspects of arbitration initiated against the government of Argentina under ICSID rules, for a breach of the Argentine-Spain bilateral treaty of investment.