ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. 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. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. If you are not a subscriber, you can contact us for a rate quote at subscribe@iareporter.com. See also the decision in Amco II where a correction of an award was annulled (see below 12.05). Awards and Decisions. 01.08.06 | 0 Comments. shortcomings in the awards under scrutiny”. 92 Ibid paras 424-429. 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. 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. Daniel Hugo Martins. Subscribe to download. The Claimants sought damages totalling US$316.9 million, plus compound interest from November 1997, for the harms inflicted upon them (paras. Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. Table of Contents. The committee rejected the application in its entirety. Full text views. ARB/01/12. Dr. Andrés Rigo Sureda, President. In 1999, Azurix, through its Argentinean subsidiary, ABA, paid the Province a Canon payment of approximately US$438.5 million, in exchange for a … © 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. Canada , NAFTA, Partial Award, November 13, 2000 . For a fuller discussion of this case, see above, pp. See Andrew E. Kramer, A Victory for Holders of Yukos, N.Y. TIMES, Dec. 1, 2009, at B1. Azurix Corp. v. The Argentine Republic, ICSID Case No. 361-377 Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and 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. The Hon. Marc Lalonde. 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 … (as president), Judge Bola … Ambiente Ufficio S.p.A. and others v. Argentine Republic (ICSID Case No. 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. 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. ARB/01/12. Sep 02, 2009 | by Luke Eric Peterson. 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. 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. Argentina defended on various grounds of jurisdiction and on the merits. PDF 0 bytes. The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded. Timeline of the dispute. 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. endstream endobj startxref 5243 0 obj <>stream 2006 (hereinafter: Azurix v. Argentina). Email Alerts. $217,838,439, and Azurix v. Argentina, ICSID Case No. Volume 14 of the ICSID Reports includes the award and annulment decision in the resubmitted Klöckner case, the award in Azurix v. Argentina and the award in Siemens v. Argentina. On September 4, 2002, Argentina requested an extension till October 7, 2002, of the time limit fixed for the filing of the memorial on jurisdiction. It is a website destined to become one of the biggest free online databases for lawyers and scholars seeking articles and cases related to international arbitration. Expert Opinion of Dr. Solomoni. �E�2- *i�`.�X����S/�������j9H�g�V# �$�(u�����J��i���fHŝ�>/�0�rh����C[G�up0d��@���!Dx40����@ F��p�6� @�RP�b6��,iJ�`d��� The Argentine Republic, ICSID Case No. ARB/01/12)"). The Hon. El Paso v Argentina, ICSID Case No. h�bbd``b`�$�' �b1�q�X, ����`��T@�? 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. 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. 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." 6 Fraport AG v Republic of the Philippines, ICSID Case No. 2 pages) Ask a question Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding. 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 Corp v. Argentina, ICSID Case No. 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 Preliminary Observations 1. Dr. Andrés Rigo Sureda, President . 3. =^ See e.g. [10] See, e.g., Azurix v. Argentina , Award, July 14, 2006; Siemens v. Argentina , Award, Feb. 6, 2007. ARB/01/12. Karl-Heinz Böckstiegel. Published: May, 2015. 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. [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]. 19 September 2001 – request for arbitration. Author(s): Bruno Simma . A recent case brought against Turkey involves a claim of over $19 billion. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. ARB/01/12, Award, 14 July 2006 . by PLC Arbitration. 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. %PDF-1.5 %���� 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. Claimant: Azurix Corp. Respondent: Argentina. On October 7, 2002, Argentina filed its memorial on jurisdiction. 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). Published: July, 2006. Azurix Corp. v. The Argentine Republic. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. 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 … In Azurix v.Argentina, the tribunal blithely stated that it could not understand why human rights law and investment treaty law might be incompatible. Introduction. Forum: ICSID. 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. S.D. ARB/01/12, Award (July 14, 2006) [hereinafter Azurix v. Argentina Award] ($165 million). 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. Background to the Dispute IV. Jurisdictions: Argentina, Italy. "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. 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. 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. ARB/01/12 (United States/Argentina BIT), Award ... (United States/Argentina BIT), Award. Published by The International Arbitration Forum. Azurix Corp. v The Argentine Republic. ARB/01/12, Award, 14 Jul. 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. 17 By March 2000, customers complained about very low water pressure. Expert Opinion of Prof. Fernandez . Azurix v. Argentine Republic, ICSID Case No. �r�(' ‚�40Jrp��Pq��f@t�9 �4�%�.0�!dWA.7A�/���\���gs�u�:`Mq��3�XWp�(�&aTa�c�Po0. 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… Azurix Corp. v. The Argentine Republic. ARB/01/12. [9] Wena Hotels v. Egypt , Award, Dec. 8, 2000. Introduction. 605 (1993) (parts IV-VII, annexes) See paragraph 26 of this Decision . Marc Lalonde. Limited breach of FET clause established in claim against Romania; No damages awarded The Rompetrol Group N.V. v Romania, ICSID Case No. 8. Country: Argentina. ARB/06/3 Margaret Devaney. Claudia Frutos-Peterson, Azurix Corp. v. Argentine Republic (ICSID Case No. Metrics. See also AMT v. Zaire , Award, Feb. 21, 1997 (holding Zaire liable after incidents of looting by the armed forces). 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. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. In a very consistent manner, the tribunal in each of these cases reached Azurix Corp. v. Argentine Republic (ICSID Case No. 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. Practice Areas: ICSID. Applicable legal instruments: ... Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (English) 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 – … Total number of HTML views: 0. 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. Investment treaty: Argentina-United States BIT. Year of the award: 2006. BREAKING NEWS: ICSID annulment committee upholds Azurix v. Argentina arbitral award. Free Download. 3. Santiago Torres Bernárdez. Claimant: Azurix Corp. Respondent: Argentina. $217,838,439, and Azurix v. Argentina, ICSID Case No. =^ See e.g. 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. 1.1.1, 3.2.1–3.2.4, Vivendi II Award). 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 … $0.00. Expert Opinion of Prof. Fernandez ... 28 Dec 2007. The ICSID Reports are an invaluable tool for practitioners and scholars working in the field of international commercial arbitration or advising foreign investors. ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. 8 August 2002 – arbitral tribunal constituted. 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 Documents: Expert Opinion of Prof. Comadira. The International Arbitration Society established the Arbitration Database in May 2008. 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. Case ID: ICSID Case No. The issue was raised again in Azurix v. Argentina. 94AM7-vZaire, Award of 21 February 1997, paras 7.14-7.15. 01 Aug. Case of the Month: Azurix v. Argentina. Applicable arbitration rules: ICSID. "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. Case ID: ICSID Case No. 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”). Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. 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. First Stay Decision”) at . 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