Fireman's Fund v. United Mexican States
Fireman's Fund Insurance Company, a United States corporation that sells personal and business insurance, including accident and fire insurance, filed a notice of arbitration against Mexico under the ICSID Additional Facility Rules. Fireman's Fund claims that Mexico violated NAFTA Articles 1102, 1105, 1110 and 1405 by facilitating the purchase of debentures denominated in Mexican pesos and owned by Mexican investors, but not facilitating the purchase of debentures denominated in U.S. dollars and owned by Fireman's Fund. Both series of debentures were issued at the same time and by the same Mexican financial services corporation, and each series was issued for the total amount of U.S. $50 million.
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U.S. 1128 Submission