The original PDFs of the commercial arbitration awards are the only documents that are not available by default on ARB/01/12, Decision on the Challenge to the President of the Tribunal, February 25, 2005 . 2 (Decision on Jurisdiction) (English & Spanish), ​Procedural Order No. ARB/14/10), ​Decision Sobre la Solicitud de Medidas Provisionales (Spanish), ​EuroGas Inc. and Belmont Resources Inc. v. Slovak Republic (ICSID Case No. (vi) provision of a guarantee would penalize Argentina for requesting annulment and curtail the right provided for by Article 52 of the ICSID Convention to apply for annulment. This Wiki Note has not been submitted yet. Marc Lalonde. All stays shall automatically terminate on the date on which a final decision is rendered on the application, except that a Committee granting the partial annulment of an award may order the temporary stay of enforcement of the unannulled portion in order to give either party an opportunity to request any new Tribunal constituted pursuant to Article 52(6) of the Convention to grant a stay pursuant to Rule 55(3). Read more here. 1 (English), ​Convial Callao S.A. and CCI - Compañía de Concesiones de Infrastructure S.A. v. Republic of Peru (ICSID Case No. In addition, Azurix requested orders for the payment of compensation for all damages suffered and the adoption by Argentina of all necessary measures to avoid further damages to Azurix’s investment. During the session on September 20, 2007, several issues of procedure were agreed and decided. ARB(AF)/16/4). Myanmar) - Request for the indication of provisional measures - The Court to deliver its Order on Thursday 23 January 2020 at 10 a.m. ARB/02/15), Procedural Order No. 311. As noted in para 10 above, Argentina did provide a comfort letter in like terms to which Azurix responded. 16. Similarly, procedural orders issued by arbitral tribunals are not included. 353 Azurix v. Argentina, supra note 295, para. Azurix Corp. v The Argentine Republic. The standard that has emerged from the various security decisions rendered to date requires the elimination of any reasonable doubt as to the State's intent to comply; (j) the present annulment application is part of a manifest pattern of dilatory action on Argentina's part to extend each and every ICSID case; (k) while superior to local laws, international treaties are subordinate to the Argentine Constitution; (l) a recent Argentine Supreme Court decision12 supports the doctrine that Argentine Courts may review and vacate ICSID awards; (m) Argentina has the wherewithal to meet the Award or post security and will not suffer irreparable harm if the stay is discontinued or it is required to post security; (n) security is the remedy granted during an annulment process to ensure that the creditor "does not suffer additional damages" if enforcement of the Award is delayed; (o) accrual of interest does not redress the full measure of harm to Azurix that will result from additional delays because Azurix has a present right to compensatory funds and to use of the funds; (p) the argument that the provision of security would place Azurix in a better position than if annulment had not been sought is erroneous and has been consistently rejected since it was advanced in the MINE case;13 and. Disqualification Decision Azurix Corp. v. Argentine Republic, ICSID Case No. 66 The Tribunal in Azurix v. Argentina noted that Art. By Michael Casey, Dow Jones Newswires. v. Turkmenistan (ICSID Case No. ARB/12/13), ​Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia (ICSID Case No. All Rights Reserved. CMS commenced arbitration proceedings against Argentina at ICSID under the United States–Argentina Bilateral Investment Treaty (BIT) regarding the actions taken in 2000 to defer the application of the US–PPI to gas industry tariffs, Argentina’s Emergency Law and other measures adopted during the crisis. Dr. Andrés Rigo Sureda, President. ARB/01/4), ​Procedural Order No. (f) stated that, as Azurix has been liquidating its assets from 2001 and ceased quoting on the New York Stock Exchange from March 2001, it would be impossible (or at least very hard) for Argentina to recover the Award if the annulment application succeeded; (g) argued that no bank guarantee should be required because: (i) Argentina's domestic law already secures execution of the Award; (ii) provision of such a guarantee would adversely affect the right of defense; (iii) no provision of the ICSID Convention establishes the need to post bonds for the purpose of continuing a stay of enforcement of an award; (iv) the commission that an international bank would charge to provide such a guarantee would be exorbitant (stated to be approximately USD 23 million); (v) as has been recognised in other ICSID cases,6 provision of a guarantee would place a claimant such as Azurix in a much more favourable position than it presently enjoys by converting an undertaking of compliance into a financial guarantee and by avoiding any issue of sovereign immunity; and. ARB/12/39), ​Decision on Claimant's Urgent Application for Provisional Measures (English), ​Karkey Karadeniz Elektrik Uretim A.S. v. Islamic Republic of Pakistan (ICSID Case No. On September 1, 2009, the Annulment Committee dismissed Argentina’s application for annulment in its entirety. Hence, consideration of whether a stay should be granted, on the condition that security should be provided, must be guided by and conform to the terms of the ICSID Convention. 19 September 2001 – request for arbitration. ARB/03/29), ​Procedural Order No. (3) If a stay of enforcement has been granted pursuant to paragraph (1) or continued pursuant to paragraph (2), the Tribunal or Committee may at any time modify or terminate the stay at the request of either party. Annulment/Set-Aside Decision: You are not logged in. A request shall only be granted after the Tribunal or Committee has given each party an opportunity of presenting its observations. ARB(AF)/16/1), ​Italba Corporation v. Oriental Republic of Uruguay (ICSID Case No. Azurix v. Argentina (1) You are not logged in. ARB/19/31), Arbitration under the Additional Facility, Arbitration under UNCITRAL and Other Non-ICSID Rules, Decision on Saint Lucia's Request for Security for Costs with Assenting and Dissenting Reasons, Decisions on Manifest Lack of Legal Merit, Decisions on Non-Disputing Party Participation, Decisions on Place of Arbitration in Additional Facility Cases, finding on provisional measures (including subsequent source)​, ​Holiday Inns S.A. and others v. Morocco (ICSID Case No. ARB/98/8), ​Decision on the Respondent's Request for Provisional Measures (, ​Marvin Roy Feldman Karpa v. United Mexican States (ICSID Case No. (5) The Committee may, if it considers that the circumstances so require, stay enforcement of the award pending its decision. This site uses cookies to optimize functionality and give you the best possible experience. Alternatively, you can sign up to receive free email headlines here. "Lao Holdings NV v Lao People's Democratic Republic, Decision on claimant's amended application for provisional measures, ICSID Case No ARB(AF)/12/6, IIC 959 (2013), 17th September 2013, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]" published on by Oxford University Press. ARB/17/47), ​Ruling on Power of Tribunal to Issue Provisional Measures Whilst Proceedings are Suspended (English), ​AS PNB Banka and others v. Republic of Latvia (ICSID Case No. (1) The party applying for the interpretation, revision or annulment of an award may in its application, and either party may at any time before the final disposition of the application, request a stay in the enforcement of part or all of the award to which the application relates. Not included are any other (supplementary) arbitral decisions, e.g. US$ 665 million in damages plus interest. Not included are any other (supplementary) arbitral decisions, e.g. By letter of June 14, 2007, in accordance with Rule 52(2) of the ICSID Arbitration Rules, the parties were notified by the Centre that an. My vote for the most important international law case for the month of July is Azurix v. Argentina. Case type: International Investment Agreement. ARB/19/32), ​JSC Tashkent Mechanical Plant and others v. Kyrgyz Republic (ICSID Case No. 11 on Respondent's Requests for Provisional Measures (English), ​Procedural Order No. (1 ) Either party may request annulment of the award by an ap plication in writing addressed to the Secretary-General on one or more of the following grounds: (a) that the Tribunal was not properly constituted; (b) that the Tribunal has manifestly exceeded its powers; (c) that there was corruption on the part of a member of the Tribunal; (d) that there has been a serious departure from a fundamental rule of procedure; or. ARB/03/26), ​Bayindir Insaat Turizm Ticaret Ve Sanayi  A.S. v. Islamic Republic of Pakistan (ICSID Case No. Investors triumph over Spain in a claim concerning Spain’s regulatory overhaul for clean energy Eiser Infrastructure Limited and Energía Solar Luxembourg S.à r.l. ARB/13/27), ​Transglobal Green Energy, LLC and Transglobal Green Energy de Panama, S.A. v. Panama (ICSID Case No. ARB/08/5), ​Perenco Ecuador Limited v. Republic of Ecuador and Empresa Estatal Petróleos del Ecuador (Petroecuador), (ICSID Case No. ARB/98/2), ​Banro American Resources, Inc. and Société Aurifère du Kivu et du Maniema S.A.R.L. ARB/05/22), ​Spyridon Roussalis v. Romania (ICSID Case No. The request sought a provisional measure recommending that Argentina refrain from incurring by itself or through any of its political subdivisions in any action or omission capable of aggravating or extending the dispute, taking into account especially the reorganization of Azurix's Argentine subsidiary, Azurix … ARB/10/13), ​Procedural Order No. Award (English) Award (Spanish) Decision on the Argentine … ARB/77/1), ​Amco Asia Corporation and others v. Republic of Indonesia (ICSID Case No. ARB/01/12, Decision on Jurisdiction, 8 December 2003, para. ARB/07/21), ​Railroad Development Corporation v. Republic of Guatemala (ICSID Case No. ARB/05/7), ​Decision on Jurisdiction and Recommendation on Provisional Measures (, ​EDF (Services) Limited v. Romania (ICSID Case No. Documents: Expert Opinion of Prof. Comadira . Similarly, procedural orders issued by arbitral tribunals are not included. ", In a letter dated October 4, 2007, Azurix expressed their concern that Dr. Guglielmino's letter did not in fact provide additional comfort or security to Azurix, given Argentina's prior actions, and particularly in light of their recent public announcements that Argentina would not acknowledge the final and binding nature of the Decision on Annulment in. Each party shall abide by and comply with the terms of the award except to the extent that enforcement shall have been stayed pursuant to the relevant provisions of this Convention (emphasis added). 2 - Order on Application for the Grant of Provisional Measures with Dissenting Statement by Prof. Kohen (English), ​Highbury International AVV, Compañía Minera de Bajo Caroní AVV, and Ramstein Trading Inc. c. Bolivarian Republic of Venezuela (ICSID Case No. As outlined above, Argentina has requested that the enforcement of the Award be stayed pending the Committee's decision on annulment. 2 Mondev International v United States ofAmerica, ICSID Case No. Use NEAR alone for X = 30 words. Each Contracting State shall notify the Secretary-General of the designation of the competent court or other authority for this purpose and of any subsequent change in such designation. Both terms must be less than X words apart. ARB/15/50), ​Al Jazeera Media Network v. Arab Republic of Egypt (ICSID Case No. ARB/15/21), ​Hydro S.r.l. Applicable legal instruments: Argentina-United States BIT. Forum: ICSID. 2 (English & Spanish), ​Zhinvali Development Ltd. v. Republic of Georgia (ICSID Case No. (h) there is little prospect that Argentina will comply with its obligation to pay Azurix as: (i) senior executive and judicial officers and the Attorney General have stated that Argentina will not comply with ICSID awards, but will submit them to Argentina's Supreme Court; (ii) the Attorney General has announced Argentina's intention to challenge ICSID awards before the International Court of Justice; (iii) Argentina remains in default of its international financial obligations; (i) a comfort letter such as that provided in CMS v. Argentina (which merely restates Argentina's obligations under Article 54(1) of the ICSID Convention) is not sufficient security when there is any doubt as to the State's intention to comply with the award. Belegging-Maatschappij "Far East" v. Republic of Austria (ICSID Case No. - 1 Sept 2009, C. Relevant ICSID Convention Articles and Arbitration Rules, Article 52(2) of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. ARB/13/32), ​Decision on Respondent's Application under ICSID Arb. The following term must not appear in document. ARB/04/12), ​​Decision on Provisional Measures (French), ​Saipem S.p.A. v. People's Republic of  Bangladesh, (ICSID Case No. Tyson Wanjura,Azurix Corp. v. Argentine Republic: Tribunal Ruling in Favor of Foreign Investor Requires Pro-Active Behavior by the Host State to Encourage and Protect Foreign Investment under the Fair and Equitable Treatment Standard of U.S.-Argentine BIT , 13Law & Bus. This ICSID arbitration is, at its essence, a case about water politics. 354 LG&E Energy Corp., LG&E Capital Corp. and LG&E International Inc. v. Argentine Republic, supra note 295, para. ARB/05/13), ​RSM Production Corporation and others v. Grenada (ICSID Case No. It is a website destined to become one of the biggest free online databases for lawyers and scholars seeking articles and cases related to international arbitration. (a) under the ICSID Convention, arbitral awards are final and binding—a stay interferes with the investor's right to an immediately payable and enforceable award and is an extraordinary measure not to be granted lightly; (b) the ICSID Arbitration Rules only allow for a stay where it is required (Rule 54(4)), and Argentina bears the burden of proving that a stay is required; (c) ICSID jurisprudence supports the requirement of security to "counterbalance" the negative effect of the stay on the award creditor; (d) the award creditor's "annulment risk" may be offset by a reduction of his enforcement risk by provision of security (citing Professor Schreuer's The ICSID Convention: A Commentary);7, (e) the decisions of previous ad hoc Committees have been based on the view that annulment is a highly unusual step that delays payment to the award creditor and security has been ordered where there has been doubt regarding the award debtor's intent to comply promptly with the award on completion of the annulment process;8. We continuously identify new themes to add to the existing Wiki Notes as well as Contributors to author new Notes. ARB/15/30), ​Gabriel Resources Ltd. and Gabriel Resources (Jersey) Ltd. v. Romania (ICSID Case No. 2 - Decision on Provisional Measures (, ​BSG Resources Limited, BSG Resources (Guinea) Limited and BSG Resources (Guinea) SARL v. Republic of Guinea (ICSID Case No. ARB/01/10) Spanish & English (unofficial translation) January 8, 2007 Annulment rejected Azurix Corp. v. Argentine Republic (ICSID Case No. Azurix v. Argentina Water Investor win (awarded $165 million plus interest) U.S. water company Azurix Corp. (an Enron subsidiary) filed a claim against Argentina under the U.S.-Argentina BIT in 2001 over a dispute related to its controversial water services contract in the province of Buenos Aires. ARB/13/13), EVN AG v. Republic of Bulgaria (ICSID Case No. ARB 16/22), ​Emergofin B.V. and Velbay Holdings Ltd. v. Ukraine (ICSID Case No. ARB/11/25)​, ​Decision on Provisional Measures (Spanish), ​Tethyan Copper Company Pty Limited v. Islamic Republic of Pakistan (ICSID Case No. ARB(AF)/99/1), ​Procedural Order No. ARB/08/19), ​Millicom International Operations B.V. and Sentel GSM SA v. The Republic of Senegal (ICSID Case No. At the same time, it decided to continue the stay of enforcement of the Award until it had taken a decision. Case ID: ICSID Case No. An interactive database of all ICSID registered cases. On November 13, 2006, the Argentine Republic (“Argentina”) filed with the Secretary–General of the International Centre for Settlement of Investment Disputes (“ICSID”) an application in writing requesting the annulment of the Award, rendered by the Tribunal in the arbitration proceeding between Azurix Corp. (“Azurix”) and Argentina of July 14, 2006. ARB/12/1), ​Muhammet Çap & Sehil Inşaat Endustri ve Ticaret Ltd. Sti. Arb/01/12), Annulment Proceeding, Decision of the Ad Hoc Committee, Sept. 1, 2009 King & Spalding LLP Argentina , USA November 17 2010 Find out all Jus Mundi tutorial videos in :​, In less than 3 minutes you'll find everything you need to know about Jus Mundi and how to take full advantage of our search engine.​. Rather, Azurix submits that, upon the making of the Award, it had a present entitlement to payment on an enforceable award and that this would be prejudiced by the continuance of the stay. ARB/03/24), ​Inceysa Vallisoletana S.L. ARB/10/17), ​Decision on Provisional Measures (English & Spanish), ​International Quantum Resources Limited, Frontier SPRL and Compagnie Minière de Sakania SPRL v. Democratic Republic of the Congo (ICSID Case No. ARB/01/12) English & Spanish September 1, 2009 Annulment rejected Hussein Nuaman Soufraki v. Azurix filed a request for provisional measures on July 15, 2003 (dated July 14, 2003), subsequently supplemented by two letters dated July 21 and 28, 2003. The International Arbitration Society established the Arbitration Database in May 2008. Azurix expressly reserved its right to request a 4 decision on provisional measures under Article 47 of the ICSID Convention and Arbitration Rule 39. ARB(AF)/98/1), ​Víctor Pey Casado and President Allende  Foundation v. Republic of Chile, (ICSID Case No. The Committee agrees that the occurrence of such errors and irregularities will be infrequent to the point of being exceptional, but as the recent decision in the, A further relevant factor for the Committee is that, because security ordinarily would only be sought against a developing country, it would risk undermining the confidence of all states in the transparency of the ICSID system by introducing the suggestion of discrimination between states, whether, Either party to an ICSID dispute has the right to request annulment of an award pursuant to Article 52. Prior to the start of the session, the Secretariat distributed to the parties copies of the Declarations, signed by each Member of the Committee, pursuant to ICSID Arbitration Rule 52(2). ARB/89/1), ​Decision on Jurisdiction and the Constitution of the Arbitral Tribunal and on Recommendation of Provisional Measures (English), ​Vacuum Salt Products Ltd. v. Republic of Ghana (ICSID Case No. The Committee further decided that it would welcome Azurix to file any comments on Argentina's written statement within seven days after of such statement. ARB/16/9), ​Decision on Claimant's Application for Provisional Measures and Temporary Relief (, ​Nova Group Investments, B.V. v. Romania (ICSID Case No. If you continue to navigate this website beyond this page, cookies will be placed on your browser. - 28 Dec 2007, Decision on the Application for Annulment of the Argentine Republic The provisional measures are intended to relieve the significant asylum pressure on Italy and on Greece, in particular by relocating a significant number of applicants in clear need of international protection who will have arrived in the territory of Italy or Greece following the date on which this Decision becomes applicable. (q) Argentina faces no danger of non-recoupment if the Award is annulled. Azurix Corp. v. Argentina (ICSID Case No. ARB/12/10), ​Decision on St. Lucia's Request for Provisional Measures (English), ​Decision on St. Lucia's Request for Security for Costs (, ​Saint-Gobain Performance Plastics Europe v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/12/6, ​Decision on Claimant's Amended Application for Provisional Measures (English), ​Ruling on Motion to Amend the Provisional Measures Order (, ​Decision on Claimant's Second application for Provisional Measures (English), ​RSM Production Corporation v. Saint Lucia (ICSID Case No. and others v. Republic of Albania (ICSID Case No. Neither party made any further submissions after Argentina's letter of October 5, 2007. (5) The Secretary-General shall promptly notify both parties of the stay of enforcement of any award and of the modification or termination of such a stay, which shall become effective on the date on which he dispatches such notification. ARB/11/8), ​Rafat Ali Rizvi v. Republic of Indonesia (ICSID Case No. ELSI case . Law stated as at 16 Sep 2009 • International, USA An update on Azurix Corp. v The Argentine Republic (ICSID Case No ARB/01/12) (Annulment proceeding), in which an ad hoc committee considered Argentina's application for annulment of the award. ARB/97/4), ​Emilio Agustín Maffezini v. Kingdom of Spain (ICSID Case No. A Contracting State with a federal constitution may enforce such an award in or through its federal courts and may provide that such courts shall treat the award as if it were a final judgment of the courts of a constituent state. ARB/16/35), ​Decision on the Claimants' Request for Provisional Measures (English), ​Hela Schwarz GmbH v. People's Republic of China (ICSID Case No. Claimant(s): Azurix Corp. Respondent state: Argentina . 18. Jus Mundi's algorithms and legal experts scan the web and the national litigation around the world in order to identify those awards that have been made public, in most cases through a municipal annulment or enforcement procedure. ARB/01/12 (United States/Argentina BIT), Decision on Jurisdiction Decision on Jurisdiction. Azurix initiated ICSID arbitral proceedings under the 1991 Argentina-US BIT and claimed that Argentina’s actions constituted multiple violations of the said BIT, including expropriation, fair and equitable treatment, non-discrimination and full protection and security. ARB(AF)/07/2), ​Alasdair Ross Anderson et al. ARB/13/33), ​Fouad Alghanim & Sons Co. for General Trading & Contracting, W.L.L. ARB/11/13), ​Decision on Respondent's Application for the Security for Costs (English), ​Hussain Sajwani, Damac Park Avenue for Real Estate Development S.A.E., and Damac Gamsha Bay for Development S.A.E. The ICSID Caseload - Statistics contains a profile of the ICSID caseload since the first case was registered in 1972. Other than by being put to the effort and expense of defending an annulment request and by the receipt of funds being delayed (assuming the annulment application to be unsuccessful), the Committee does not accept that Azurix suffers any prejudice of a kind warranting the provision of security. ARB/99/2, Award, 25 June 2001, paras. "Lao Holdings NV v Lao People's Democratic Republic, Decision on claimant's amended application for provisional measures, ICSID Case No ARB(AF)/12/6, IIC 959 (2013), 17th September 2013, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]" published on by Oxford University Press. Its written submissions in support of the application (, Azurix opposed continuance of the stay and sought provision of security if the stay were to be continued. The situation here is not a scenario, such as that mentioned in the. ARB/07/20), ​Decision on Preliminary Issues (English), ​Pantechniki S.A. and Mr. Fouad Mohammed Thunyan Alghanim v. Hashemite Kingdom of Jordan (ICSID Case No. The question for the Tribunal is whether the measures taken by the Province can be considered to be arbitrary and have impaired “the management, operation, maintenance, use, enjoyment, acquisition, expansion, or disposal” of the investment of Azurix in Argentina. ARB/10/25);  Bernhard von Pezold and others v. Republic of Zimbabwe (ICSID Case No. 7 The MOX Plant Case (Ireland v United Kingdom) (ITLOS, Provisional Measures, Order of 3 December 2001) (2002) 41 ILM 405, 413, referred to with approval in Compañia de Aguas del Aconquija SA v Argentine Republic (Award) ICSID Case No ARB/97/3 (ICSID, 20 August 2007, Rowley P, Kaufmann-Kohler & Bernal Verea) para 7.4.3. Claimant: you are not a scenario, such an approach would be add! ​Emergofin B.V. and Aktsiaselts Tallinna Vesi v. Republic of Nigeria ( ICSID Case.... Cookies to optimize functionality and give you the best possible experience arb/07/23 ), ​Pantechniki S.A arb/06/2,... Article 47 of the ICSID Convention and Arbitration rule 39 Contributors to author Wiki. After the Tribunal or Committee 's Decision on Provisional Measures ( French ), ​Decision on Jurisdiction, December. International S.A. v. Panama ( ICSID Case No 4 Decision on Provisional Measures (, ​​Samsung Engineering Co. Ltd.. Shall give priority to the consideration of such a Request complete listing of pending cases listed chronological! Available to all International Hotels A/S v. Arab Republic of Turkey ( ICSID Case No Oriental Republic of (... Arb/03/26 ), ​Zhinvali Development Ltd. v. Romania ( ICSID Case No courts must that. ​​Víctor Pey Casado and President Allende Foundation v. 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