the Office of the United States Trade Representative (USTR) to review Argentina's eligibility to participate in the US Generalized System of Preferences (GSP) program. In the context of the 2009 review of the GSP program, USTR accepted Azurix's petition to review whether Argentina met the criteria related to enforcement of arbitral awards. In August 2010, the Office of the United States Trade Representative (USTR) announced it would hear Azurix's petition regarding Argentina, in connection with the 2009 GSP Annual Review to modify the GSP status of certain beneficiary developing countries (BDC's) because of country practices. In a filing prepared in advance of a September 28, 2010 GSP Subcommittee hearing Azurix stated, "Argentina has refused to enforce, through voluntary payment, a final and substantial arbitral award in favor of Azurix. Under these circumstances, U.S. law dictates the removal of GSP benefits for Argentina." At the September 28, 2010, GSP Subcommittee hearing, Azurix formally called for the removal of Argentina's benefits under the generalised system of preferences (GSP). In oral testimony, attorneys for Azurix, told the subcommittee that Argentina's refusal to comply with the 2006 ICSID award—which was upheld by an annulment committee last September—undermines the "very integrity of the foreign investment legal regime" and has an "erosive effect" on the ICSID Convention. As of July 31, 2010, Azurix was owed more than $220 million by the Republic of Argentina. Wessex acquisition Enron acquired the British water utility Wessex Water in July 1998 with an all-cash purchase of $2.4 billion. This formed the core of Azurix and its main asset. Wessex was one of the most profitable utility companies operating in the UK, earning $232 million profit on $436 million in revenues the year before its sale to Enron. However, the British regulators required the company to cut its rates by 12% starting in April 2000 and an upgrade was required of the utility's aging infrastructure, estimated at costing over a billion dollars. By the end of 2000 Azurix had an operating profit of $100 million and $2 billion in debt. Azurix subsequently sold its interest in Wessex Water in May 2002 to YTL Corporation of Malaysia. Other business Between 1999 and 2002, Azurix owned and operated a 30-year water and wastewater concession in Cancun, Mexico. In addition, Azurix took ownership positions in several joint ventures in Mexico and, in April 2000 Azurix won a BOT contract in Accra, Ghana Azurix created