On September 4, 2002, Argentina requested an extension till October 7, 2002, of the time limit fixed for the filing of the memorial on jurisdiction. For a fuller discussion of this case, see above, pp. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. Year of the award: 2006. Myers, Inc.v. 5220 0 obj <> endobj by PLC Arbitration. With the exception of the Azurix award, the awards had been acquired by US creditors. Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and Protection of Investment between the Argentine Republic and the United States of America (hereinafter “the BIT”), international law and Argentine law in respect of Azurix’s investment in a utility which distributes drinking water and treats and disposes of sewerage water in the Argentine … 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. Year of the award: 2006. Metrics. Claimant: Azurix Corp. Respondent: Argentina. ARB/01/3, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (7 Oct 2008), para. El Paso v Argentina, ICSID Case No. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. ARB/01/12), Decision on Argentine Republic’s Request the for a Continued Stay of Enforcement of the Award, December 28, 2007 (“Azurix Stay Decision”) ¶ ... the same portions of the Award that gave rise to Argentina’s Application 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. Marc Lalonde. In the abovementioned case of Azurix v Argentina, ... 25 See eg El Paso v Argentina (n 8), Award of 31 October 2011, at paras 178–89, 190–98, 533. In Azurix Corp. v The Argentina Republic (ICSID Case No ARB/01/12) (Annulment Proceeding), an ad hoc committee considered Argentina's request for annulment of an award pursuant to Article 52 of the ICSID Convention. Follow-on (post-award) proceedings Follow-on (post-award) proceedings include three types of legal proceedings: • ICSID annulment proceedings; • Judicial review by national courts (set-aside proceedings); and • ICSID resubmission proceedings. The Trans-Pacific Partnership Agreement (TPP) is a comprehensive, multilateral free trade agreement (FTA) among 12 states representing nearly a third of the world's trade. Procedural background III. Karl-Heinz Böckstiegel. Expert Opinion of Prof. Fernandez . The Trans-Pacific Partnership Agreement (TPP) is a comprehensive, multi-lateral free trade agreement (FTA) among 12 States representing nearly a third of the world’s trade. Published: July, 2006. I. Published by The International Arbitration Forum. ARB/01/12, Award, 14 Jul. Page Count: 6 pages. Dr. Daniel H. Martins. ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. ARB/01/12) BY ALEJANDRO A. ESCOBAR* [December 28, 2007] +Cite as 47 ILM 445 (2008)+ (Annulment Proceeding), Decision on the Argentine Republic's Request for a Continued Stay of Enforcement of the Award (Rule 54 of the ICSID Arbitration Rules) An ICSID Ad Hoc Committee composed of Dr. Gavan Griffith, Q.C. ARB/01/12. Preliminary Observations 1. Jurisdictions: Argentina, Italy. Azurix Corp. v. The Argentine Republic. Santiago Torres Bernárdez. In Azurix v. Argentina (above, § 58), the Tribunal held that a US company’s indirect investment in a water concession in Argentina held through a local subsidiary was an “investment” in the sense of the BIT and that it had precisely been the intention of the Contracting Parties to cover that type of interests in order to protect the real party concerned. ICSID Award of July 14, 2006, Azurix Corp Vs. 2 pages) Ask a question Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding. (as president), Judge Bola … ARB/03/25 (Annulment Proceedings), Decision of December 23, 2010, rendered after the completion of this paper and summarized in the post scriptum at the end. Introduction. North American Free Trade Agreement, 32 I.L.M. Get latest news, recent updates, and more delivered directly to your email. for a Continued Stay of Enforcement of the Award, December 28, 2007 (“Azurix Stay Decision”) ¶ 45. This ICSID arbitration is, at its essence, a case about water politics. $217,838,439, and Azurix v. Argentina, ICSID Case No. Azurix Corp. v The Argentine Republic. BREAKING NEWS: ICSID annulment committee upholds Azurix v. Argentina arbitral award. Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and Award. and Azurix cases point to a high bar when it comes to overturning ICSID awards Nov 13, 2009 BREAKING NEWS: ICSID annulment committee upholds Azurix v. 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. "Azurix Corporation v Argentina, Award, ICSID Case No ARB/01/12, IIC 24 (2006), 23rd June 2006, despatched 14th July 2006, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]" published on by Oxford University Press. ARB/03/15, Decision on Jurisdiction Summary: El Paso claimed against Argentina for the latter’s withdrawal of the guarantees and safeguards under the legal framework upon which El Paso had relied upon in investing in the electricity and hydrocarbons industries. Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding Practical Law Resource ID 4-504-4006 (Approx. If you are not a subscriber, you can contact us for a rate quote at subscribe@iareporter.com. Azurix is known in particular for operating in Argentina, where in June 1999 it bid $438m to win a 30-year concession covering two of the three regions of the Buenos Aires Province (excluding the Buenos Aires city concession, which is run by Suez). Limited breach of FET clause established in claim against Romania; No damages awarded The Rompetrol Group N.V. v Romania, ICSID Case No. My vote for the most important international law case for the month of July is Azurix v. Argentina. H�}�T����m7�D-��f��:�� q]���+A���L@Vѕ;�b��E� �rO[�"dU��e�rE�L" &�W���te?��V��O3��� q��B�t�!��B��Y�= %PDF-1.5 %���� However, Argentina’s prosecutor general, Osvaldo Guglielmino, was quoted in local media Tuesday as saying the government was pleased with the result in the Azurix case despite the loss. Alternatively, you can sign up to receive free email headlines here. Argentina applied to annul the Vivendi II award on various grounds including, briefly, that the Tribunal wrongly accepted jurisdiction and failed to apply applicable law, which consisted of provincial and national law and the terms of the Concession Contract. 16-17. Azurix Corp v. Argentina, ICSID Case No. However, Argentina’s prosecutor general, Osvaldo Guglielmino, was quoted in local media Tuesday as saying the government was pleased with the result in the Azurix case despite the loss. Forum: ICSID. Patocchi/ A.M. Whitesell (eds), Global Reflections on International Law, Commerce and Dispute Resolution, Liber Amicorum in honour of Robert Briner, 2005, p. 815 et seil. Marc Lalonde. Documents: Expert Opinion of Prof. Comadira. For example, in Azurix v Argentina, the tribunal accepted the view that FPS is ‘not only a matter of physical security; the stability afforded by a secure investment environment is as important from an investor's point of view.' Pan American Energy LLC v. Argentine Republic, ICSID Introduction. The decision is available here and nice summaries of the decision can be found here, here, and here. Follow-on (post-award) proceedings Follow-on (post-award) proceedings include three types of legal proceedings: • ICSID annulment proceedings; • Judicial review by national courts (set-aside proceedings); and • ICSID resubmission proceedings. S.A. v. Argentina (Award of November 21, 2000, 40 ILM 426 (2001), in the Decision of the ad hoc Committee of July 3, 2002, 41 ILM 1135 (2002)), and in Salini v. Morocco (Decision of July 23, 2001, 42 ILM 609 (2003)). See also AMT v. Zaire , Award, Feb. 21, 1997 (holding Zaire liable after incidents of looting by the armed forces). A PDF version of this article is availabe here.. A. 94AM7-vZaire, Award of 21 February 1997, paras 7.14-7.15. Timeline of the dispute. Claudia Frutos-Peterson, Azurix Corp. v. Argentine Republic (ICSID Case No. 38; Enron Corporation and Ponderosa Assets, L.P. v. Argentine Republic, ICSID Case No. 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 on July 14, 2006. The tribunal's decision in SyC can be contrasted with the award in Oxus Gold v Uzbekistan, 16 under the UK-Uzbekistan BIT. Applicable arbitration rules: ICSID. 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 on July 14, 2006. 14, 2006) [hereinafter Azurix v. Argentina Award] ($165 million). Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and Protection of Investment between the Argentine Republic and the United States of America (hereinafter "the BIT"), international law and Argentine law in respect of Azurix's investment in a utility which distributes drinking water and treats and disposes of sewerage water in the Argentine … Canada , NAFTA, Partial Award, November 13, 2000 . Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. Total number of HTML views: 0. Forum: ICSID. ARB/01/8, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (1 Sep 2006), para. ARB/01/12, Award (July 14, 2006) [hereinafter Azurix v. Argentina Award] ($165 million). Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. Decisions, judgments and/or awards rendered in the course of follow-on (post-award) proceedings, as well as any individual opinions appended to them, are recorded. Investment treaty: Argentina-United States BIT. 17 By March 2000, customers complained about very low water pressure. 1. Background to the Dispute IV. 605 (1993) (parts IV-VII, annexes) See paragraph 26 of this Decision . 66 The Tribunal in Azurix v. Argentina noted that Art. Decision on Jurisdiction. On November 13, 2006, the Argentine Republic ("Argentina") filed with the Secretary-General of the International Centre for Settlement of Investment Disputes ("ICSID") an application in writing requesting the annulment of the Award, rendered by the Tribunal in the arbitration proceeding between Azurix Corp. ("Azurix") and Argentina of July 14, 2006. Case ID: ICSID Case No. A PDF version of this article is availabe here.. A. 3. The dispute stretches over a considerable time period resulting in an (however, dismissed) application on annulment of die original award, see Azurix Corp v. Argentina… 3. �E�2- *i�`.�X����S/�������j9H�g�V# �$�(u�����J��i���fHŝ�>/�0�rh����C[G�up0d��@���!Dx40����@ F��p�6� @�RP�b6��,iJ�`d��� ARB/01/12. Documents: Expert Opinion of Prof. Comadira. previously written or published articles, new decisions, landmark decisions). para. ARB/01/12. The Republic of Argentina, ICSID Case No. endstream endobj startxref and Azurix cases point to a high bar when it comes to overturning ICSID awards Nov 13, 2009 BREAKING NEWS: ICSID annulment committee upholds Azurix v. ARB/01/12, Award, 14 July 2006 . Case of the Month: Azurix v. Argentina. 91 Azurix v Argentina, Final Award of 14 July 2006. 19 September 2001 – request for arbitration. ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. Azurix Corp. on July 14, 2006, pending a decision on Argentina's application for the annulment of the award.2 The numerous arbitration proceeding under the ICSID Convention initiated since 2001 against Argentina have led We highly encourage our users to submit any documents you might deem relevant (i.e. Expert Opinion of Prof. Fernandez ... 28 Dec 2007. 3. In October 2001, Azurix announced it would withdraw from the contract as of January 2002, accusing the regional government of "serious breaches", and later filed a compensation claim with the ICSID("Azurix Corp. v. Argentine Republic (Case No. 92 Ibid paras 424-429. Published: May, 2015. In a very consistent manner, the tribunal in each of these cases reached Volume 14 of the ICSID Reports includes the award and annulment decision in the resubmitted Klöckner case, the award in Azurix v. Argentina and the award in Siemens v. Argentina. $217,838,439, and Azurix v. Argentina, ICSID Case No. Practice Areas: ICSID. Decision on Jurisdiction. The Tribunal relied upon Azurix Corp v Argentina (Award) ICSID Case No ARB/01/12 (ICSID, 14 July 2006, Sureda P, Lalonde & Martens) para 361. Full text views reflects the number of PDF downloads, PDFs sent to Google Drive, Dropbox and Kindle and HTML full text views for chapters in this book. Ambiente Ufficio S.p.A. and others v. Argentine Republic (ICSID Case No. On October 7, 2002, Argentina filed its memorial on jurisdiction. 361-377 Azurix Corp. v. Argentine Republic (ICSID Case No. Azurix v. Argentine Republic, ICSID Case No. Responsibility of the Respondent for Actions and Omissions of the Province (a) Positions of the Parties (b) Considerations of the Tribunal 2. [9] Wena Hotels v. Egypt , Award, Dec. 8, 2000. [11] Nykomb v. Latvia , Award, Dec. 16, 2003. `" MTD v Chile, Award of 25 May 2004, paras 242-243; Decision on the Application for Annulment of 21 March 2007, para 101. 01.08.06 | 0 Comments. Daniel Hugo Martins. Patocchi/ A.M. Whitesell (eds), Global Reflections on International Law, Commerce and Dispute Resolution, Liber Amicorum in honour of Robert Briner, 2005, p. 815 et seil. S.D. [10] See, e.g., Azurix v. Argentina , Award, July 14, 2006; Siemens v. Argentina , Award, Feb. 6, 2007. 8 August 2002 – arbitral tribunal constituted. Argentina , Award, Aug. 20, 2007. Timeline of the dispute. Argentina defended on various grounds of jurisdiction and on the merits. In 1999, Azurix, through its Argentinean subsidiary, ABA, paid the Province a Canon payment of approximately US$438.5 million, in exchange for a … See paragraph 24 of this Decision . 6 Fraport AG v Republic of the Philippines, ICSID Case No. 8 Dec 2003. "Azurix Corporation v Argentina, Award, ICSID Case No ARB/01/12, IIC 24 (2006), 23rd June 2006, despatched 14th July 2006, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]" published on by Oxford University Press. Email Alerts. Azurix Corp. v. The Argentine Republic, ICSID Case No. [5] Similar reasoning was adopted in the tribunal’s response to the aforementioned cases, as well as in Siemens v.Argentina [6] and Vivendi II [7]. The ICSID Reports are an invaluable tool for practitioners and scholars working in the field of international commercial arbitration or advising foreign investors. Azurix v Argentina, ICSID Case No. Claimant: Azurix Corp. Respondent: Argentina. The Argentine Republic, ICSID Case No. 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. Dr. Andrés Rigo Sureda, President . =^ See e.g. 01 Aug. Case of the Month: Azurix v. Argentina. 26 Continental Casualty Company v The Argentine Republic, ICSID Case No ARB/03/9, Award of 5 September 2008, para 297. © 2020 The International Arbitration Society, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (English), Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (Spanish), Decision on the Application for Annulment of the Argentine Republic, Decision on the Application for Annulment of the Argentine Republic (English), Decision on the Application for Annulment of the Argentine Republic (Spanish), Practitioner’s Handbook on International Commercial Arbitration. Free Download. On September 19, 2001, Azurix filed a request for arbitration against the Argentina Republic, with the International Centre for Settlement of Investment Disputes (hereinafter the “Centre”). enforcing the award would be inconsistent with that jurisdiction‘s public policy.4 ... recent annulment decisions are Sempra v. Argentina,7 Enron v. Argentina,8 Vivendi v. Argentina,9 Rumeli Telekom v. Kazakhstan,10 Helnan International Hotels v. Egypt, Azurix v. Argentina,11 and MCI v. Ecuador.12 Five of the seven applications for annulment were brought by the respondent host state. shortcomings in the awards under scrutiny”. Argentina] ($218 million); Azurix Corp. v. Argentina, ICSID Case No. The issue was raised again in Azurix v. Argentina. h�bbd``b`�$�' �b1�q�X, ����`��T@�? In a May 6, 2013 award, an ICSID tribunal ruled that the Rompetrol Group (TRG) had established a limited breach of the Netherlands-Romania bilateral investment treaty (BIT) but had … Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. Country: Argentina. ARB/01/12. Related Content. 19 September 2001 – request for arbitration. Azurix Corp. v The Argentine Republic. Further complicating matters, two of the three 0 8. AZURIX CORP. v. THE ARGENTINE REPUBLIC (ICSID Case No. ARB/01/12)"). Claimant(s): Azurix Corp. Respondent state: Argentina. Expert Opinion of Dr. Solomoni. The Claimants sought damages totalling US$316.9 million, plus compound interest from November 1997, for the harms inflicted upon them (paras. On September 11, 2002, the Tribunal granted the extension sought by Argentina. Country: Argentina. CMS Gas Transmission Company v Argentina Year of the award: 2005 Forum: ICSID Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators Mr. Francisco Orrego Vicuña, President Mr. Marc LaLonde Mr. Francisco Rezek Annulment Committee Judge Gilbert Guillaume, President Judge Nabil Elaraby Professor James R. Crawford Timeline of the dispute 26 July 2001 – … %%EOF Author(s): Andrés Rigo Sureda. A recent case brought against Turkey involves a claim of over $19 billion. 289 (1993) (table of contents, preamble, parts I-III) and 32 I.L.M. Volume 14 of the ICSID Reports includes the award and annulment decision in the resubmitted Klöckner case, the award in Azurix v. Argentina and the award in Siemens v. Argentina. �r�(' ‚�40Jrp��Pq��f@t�9 �4�%�.0�!dWA.7A�/���\���gs�u�:`Mq��3�XWp�(�&aTa�c�Po0. Award (English) Award (Spanish) Decision on the … Author(s): Bruno Simma . First Stay Decision”) at . 14 Jul 2006. 1. ARB-08-9) Order of Discontinuance of the Proceeding. $0.00. Link to Italaw’s case page 5243 0 obj <>stream The Hon. =^ See e.g. Elihu Lauterpacht. The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded. The International Arbitration Society established the Arbitration Database in May 2008. 5233 0 obj <>/Filter/FlateDecode/ID[<0C40FB20F425A946836E481BB2C43E9B><05D28A6802A4B94FA7B5B52BBC9F931F>]/Index[5220 24]/Info 5219 0 R/Length 73/Prev 701041/Root 5221 0 R/Size 5244/Type/XRef/W[1 2 1]>>stream Subscribe to download. ARB/01/12 (United States/Argentina BIT), Award ... (United States/Argentina BIT), Award. During the 1999 water privatization in Argentina, Azurix, a US corporation, won – through its Argentinean subsidiary (ABA) – the tender for a 30-year concession for the distribution of potable water and the treatment of sewerage in the Province of Buenos Aires. Azurix Corp. v. The Argentine Republic. You are not logged in. In compliance with the Committee’s instructions, on September 12, 2007, Argentina filed their Observations on the Continuation of the Stay of Enforcement of the Award, and Azurix filed their Opposition to Argentina’s Request to Continue to Stay Enforcement of the Award. In 1999, American corporation Azurix, an Enron spin-off, won the bid for a thirty-year concession to run the water and sewage systems in the Argentine province of Buenos Aires paying United States Dollars (USD) 438.6 million as a so-called canon payment. The issue was raised again in Azurix v. Argentina. The Hon. Introduction II. Applicable legal instruments: ... Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (English) PDF 0 bytes. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. h�b```�fV6^�e`f`�sL ���Q�Q@,$ B@�i`��|FF� �nA!�YmN�J��lj`(��gɋ��� vş��Zڠ�Xo��,�YH`���’������e�jA��fLl2墙*�ʯ4�.�:?�����w�jد� u�x� M�7�f{M�!�5�e�x�Ƿ�=�^�hJ�7�/k��y�C��!��+�yn��bl��l5�M�����ӫ"�8O ��x���.w�lG���Kϙ-�������.�ә���/�Kx�.lx�ݩ}O-'�l��2�9��#�8f����a�f��,|ں����P�u!��lX*�v�[��_O�I��S��B�F�����N�L����vζӹ�:�N�N����2)Rg�� Dr. Andrés Rigo Sureda, President. 47 of the Convention does not specify the degree of urgency required to grant provisional measures. ARB/01/3), Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (Rule 54 of the ICSID Arbitration Rules), 7 October 2008 (“ Enron. ABA paid a … Awards and Decisions. S.A. v. Argentina (Award of November 21, 2000, 40 ILM 426 (2001), in the Decision of the ad hoc Committee of July 3, 2002, 41 ILM 1135 (2002)), and in Salini v. Morocco (Decision of July 23, 2001, 42 ILM 609 (2003)). Table of Contents. 1.1.1, 3.2.1–3.2.4, Vivendi II Award). The committee rejected the application in its entirety. �ԛ��Q�3����H��m�� �� Add to cart. See Andrew E. Kramer, A Victory for Holders of Yukos, N.Y. TIMES, Dec. 1, 2009, at B1. Full text views. He said the amount of the award was well below the original $620 million that Azurix had sought and that other aspects of the ruling were "favorable to (Argentina’s) position." Dr. Daniel H. Martins. If you are a subscriber, please Login to access. Sep 02, 2009 | by Luke Eric Peterson. 2006 (hereinafter: Azurix v. Argentina). In Azurix v.Argentina, the tribunal blithely stated that it could not understand why human rights law and investment treaty law might be incompatible. See also the decision in Amco II where a correction of an award was annulled (see below 12.05). ARB/06/3 Margaret Devaney. Enron Corporation & Ponderosa Assets, L.P. v. 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