The Argentine Republic, ICSID Case No. On October 7, 2002, Argentina filed its memorial on jurisdiction. The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded. 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. 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 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. 19 September 2001 – request for arbitration. h�bbd``b`�$�' �b1�q�X, ����`��T@�? %%EOF =^ See e.g. 1. 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. Awards and Decisions. Argentina , Award, Aug. 20, 2007. Expert Opinion of Prof. Fernandez ... 28 Dec 2007. for a Continued Stay of Enforcement of the Award, December 28, 2007 (“Azurix Stay Decision”) ¶ 45. 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. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. Case ID: ICSID Case No. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. endstream endobj startxref Canada , NAFTA, Partial Award, November 13, 2000 . Published: July, 2006. 8 August 2002 – arbitral tribunal constituted. Metrics. 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. See also the decision in Amco II where a correction of an award was annulled (see below 12.05). A PDF version of this article is availabe here.. A. Applicable arbitration rules: ICSID. ARB/01/3, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (7 Oct 2008), para. Applicable legal instruments: ... Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (English) My vote for the most important international law case for the month of July is Azurix v. Argentina. With the exception of the Azurix award, the awards had been acquired by US creditors. Azurix Corp v. Argentina, ICSID Case No. The issue was raised again in Azurix v. Argentina. 8 Dec 2003. ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. 17 By March 2000, customers complained about very low water pressure. para. 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. 289 (1993) (table of contents, preamble, parts I-III) and 32 I.L.M. previously written or published articles, new decisions, landmark decisions). 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. 361-377 Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. Published: May, 2015. 26 Continental Casualty Company v The Argentine Republic, ICSID Case No ARB/03/9, Award of 5 September 2008, para 297. 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). 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 … by PLC Arbitration. 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. 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. Santiago Torres Bernárdez. The Hon. 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. 16-17. Azurix v. Argentine Republic, ICSID Case No. The tribunal's decision in SyC can be contrasted with the award in Oxus Gold v Uzbekistan, 16 under the UK-Uzbekistan BIT. Argentina defended on various grounds of jurisdiction and on the merits. Background to the Dispute IV. AZURIX CORP. v. THE ARGENTINE REPUBLIC (ICSID Case No. Azurix Corp. v The Argentine Republic. Dr. Andrés Rigo Sureda, President. 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… �ԛ��Q�3����H��m�� �� 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”). Investment treaty: Argentina-United States BIT. Country: Argentina. Marc Lalonde. Marc Lalonde. If you are a subscriber, please Login to access. ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. ARB/01/12. 3. 14 Jul 2006. ARB/01/12, Award, 14 July 2006 . The committee rejected the application in its entirety. Year of the award: 2006. Expert Opinion of Dr. Solomoni. [9] Wena Hotels v. Egypt , Award, Dec. 8, 2000. $217,838,439, and Azurix v. Argentina, ICSID Case No. Award (English) Award (Spanish) Decision on the … 605 (1993) (parts IV-VII, annexes) See paragraph 26 of this Decision . Practice Areas: ICSID. The ICSID Reports are an invaluable tool for practitioners and scholars working in the field of international commercial arbitration or advising foreign investors. Limited breach of FET clause established in claim against Romania; No damages awarded The Rompetrol Group N.V. v Romania, ICSID Case No. 38; Enron Corporation and Ponderosa Assets, L.P. v. Argentine Republic, ICSID Case No. Get latest news, recent updates, and more delivered directly to your email. ARB/01/12. 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. [11] Nykomb v. Latvia , Award, Dec. 16, 2003. Claimant(s): Azurix Corp. Respondent state: Argentina. See also AMT v. Zaire , Award, Feb. 21, 1997 (holding Zaire liable after incidents of looting by the armed forces). 94AM7-vZaire, Award of 21 February 1997, paras 7.14-7.15. A PDF version of this article is availabe here.. A. Azurix Corp. v. Argentine Republic (ICSID Case No. Country: Argentina. For a fuller discussion of this case, see above, pp. The Hon. The Claimants sought damages totalling US$316.9 million, plus compound interest from November 1997, for the harms inflicted upon them (paras. and Azurix cases point to a high bar when it comes to overturning ICSID awards Nov 13, 2009 BREAKING NEWS: ICSID annulment committee upholds Azurix v. Azurix Corp. v. The Argentine Republic. This ICSID arbitration is, at its essence, a case about water politics. Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and On September 4, 2002, Argentina requested an extension till October 7, 2002, of the time limit fixed for the filing of the memorial on jurisdiction. First Stay Decision”) at . h�b```�fV6^�e`f`�sL ���Q�Q@,$ 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�� "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. Elihu Lauterpacht. 6 Fraport AG v Republic of the Philippines, ICSID Case No. Forum: ICSID. Jurisdictions: Argentina, Italy. In Azurix v.Argentina, the tribunal blithely stated that it could not understand why human rights law and investment treaty law might be incompatible. Year of the award: 2006. 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 … We highly encourage our users to submit any documents you might deem relevant (i.e. 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. Ambiente Ufficio S.p.A. and others v. Argentine Republic (ICSID Case No. Claimant: Azurix Corp. Respondent: Argentina. Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. 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. Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding Practical Law Resource ID 4-504-4006 (Approx. 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 If you are not a subscriber, you can contact us for a rate quote at subscribe@iareporter.com. 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. ARB/06/3 Margaret Devaney. Introduction II. 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 – … 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. Karl-Heinz Böckstiegel. 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." 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 … A recent case brought against Turkey involves a claim of over $19 billion. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. 1. shortcomings in the awards under scrutiny”. 2 pages) Ask a question Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding. Azurix Corp. v. The Argentine Republic. 1.1.1, 3.2.1–3.2.4, Vivendi II Award). 01 Aug. Case of the Month: Azurix v. Argentina. 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. Case of the Month: Azurix v. Argentina. Alternatively, you can sign up to receive free email headlines here. PDF 0 bytes. Myers, Inc.v. S.D. The decision is available here and nice summaries of the decision can be found here, here, and here. 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. ICSID Award of July 14, 2006, Azurix Corp Vs. Free Download. 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)). Published by The International Arbitration Forum. The issue was raised again in Azurix v. Argentina. Add to cart. Preliminary Observations 1. Email Alerts. Claudia Frutos-Peterson, Azurix Corp. v. Argentine Republic (ICSID Case No. "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. That Art if you are not a subscriber, please Login to access a Victory Holders... Us creditors I-III ) and 32 I.L.M encourage our users to submit any documents might! Or advising foreign investors Argentina noted that Art 165 million ) ) - annulment proceeding Practical law Resource ID (! 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