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On July 14, 2009, the Venezuelan President Hugo Chavez issued Decree No 6.796 on the nationalisation of the steel pipe maker Matesi Materiales Siderúrgicos, which was owned by Tenaris, a Luxembourg-based global manufacturer and supplier of steel pipe products, which is itself a subsidiary of Techint, an Argentinian-Italian conglomerate of more than 100 companies.
In 2011, Tenaris brought the case to the International Centre for Settlement of Investment Disputes (ICSID) to get an adequate and effective compensation.
The Decree No 6.796 was published in the Official Gazette of the Bolivarian Republic of Venezuela on July 14, 2009.
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