Water Wars

Water Wars

Enron has extended its claws from beyond the grave to remind Argentina that Latin America is no longer the Wild West and even governments have to respect the law and honor contracts – or face the consequences far from their own shores. Azurix, the failed Houston company's former water venture, won a $185 million settlement before the International Centre for Settlement of Investment Disputes in August after successfully showing that the government prevented it from applying agreed prices for water in the province of Buenos Aires a scant five weeks into the concession for which it had paid $438 million. Rioters took to the streets during Argentina's economic meltdown.Azurix's

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