Suspension of Arbitration Proceedings Before the ICSID’s Court
Pampa Energía Announces the Suspension of Arbitration Proceedings Entitled “Enron/Ponderosa vs. Republic of Argentina” Before the ICSID’s court
Buenos Aires, August 1, 2012. Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) announces today that the Arbitration Tribunal of the International Centre for Settlement of Investment Disputes (“ICSID”) ordered, pursuant to the instructions imparted in due course by Pampa (as assignee of the rights arising from the claim mentioned below) to the claimants, the suspension of the arbitration proceedings filed by Enron Creditors Recovery Corp. (formerly Enron Corp.) and Ponderosa Assets L.P. against the Republic of Argentina (Case No ICSID ARB/01/03) which originally involved a claimed amount of approximately US$167 million as of the date hereof.
The referred suspension has been requested pursuant to the commitment undertaken before the Argentine Antitrust Authority (Comisión de Defensa de la Competencia, “CNDC”) and the Argentine Gas Enforcement Authority (Ente Nacional Regulador del Gas, “Enargas”) by Compañía de Inversiones en Energía S.A. (“CIESA”), EPCA S.A. (formerly Enron Pipeline Company Argentina S.A.), Petrobras Argentina S.A., Petrobras Hispano Argentina S.A. and Pampa, dated August 29, 2011 under the scope of the proceedings filed before both agencies as a result of the approval of the Restructuring Agreement concerning the financial debt of CIESA, executed on September 1, 2005, as amended on May 31, 2006, August 23, 2007, August 25, 2008, May 17, 2011 and July 13, 2012 (the “Restructuring Agreement”), which approval is currently pending the issuance of the relevant governmental consents.
For further information, contact:
Ricardo Torres – Chief Executive Officer
Mariano Batistella – Special Projects Manager and Investor Relations Officer
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autónoma de Buenos Aires, Argentina
Phone: +54 (11) 4809 9500