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Suez Wins $405 Million Arbitration Ruling in Argentina Dispute

Suez Environnement says the World Bank’s arbitration arm ruled Argentina must pay it $405 million for terminating a water contract in Buenos Aires in 2006.

The International Centre for Settlement of Investment Disputes decision “represents an important step in the process of solving this dispute,” Suez said in a statement. The next step is to make sure that the ruling is implemented, the Paris-based water services and treatment company said.