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Tribunal declines to stay arbitration or refuse to exercise its jurisdiction in deference to local proceeding
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Tribunal turns to look at 18 month local recourse requirement, but can sidestep MFN and res judicata questions about earlier Impregilo v. Argentina award from another case
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Argentina argues that dispute submitted to local courts was not the same as in the BIT arbitration
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Tribunal sees considerable authority for the view that a different entity could have pursued the local remedies – and that claims need not be identical
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Broad definition of investment in BIT encompasses claimant’s shares in Puentes
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Argentina argues that claimant waited too long to file its ICSID arbitration
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Tribunal asks if unreasonable delay by claimant has occurred, and, if so, whether this has prejudiced the state in responding to the claim
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