1. In 1999, Azurix, through its Argentinean subsidiary, ABA, paid the Province a Canon payment of approximately US$438.5 million, in exchange for a … 8 Dec 2003. Timeline of the dispute. © 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. 94AM7-vZaire, Award of 21 February 1997, paras 7.14-7.15. Table of Contents. 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. 19 September 2001 – request for arbitration. Azurix v. Argentine Republic, ICSID Case No. Alternatively, you can sign up to receive free email headlines here. ARB/01/12, Award, 14 Jul. ARB/01/8, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (1 Sep 2006), para. Daniel Hugo Martins. Sep 02, 2009 | by Luke Eric Peterson. Subscribe to download. Awards and Decisions. 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). If you are not a subscriber, you can contact us for a rate quote at subscribe@iareporter.com. 66 The Tribunal in Azurix v. Argentina noted that Art. Claimant: Azurix Corp. Respondent: Argentina. 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. Related Content. Limited breach of FET clause established in claim against Romania; No damages awarded The Rompetrol Group N.V. v Romania, ICSID Case No. 47 of the Convention does not specify the degree of urgency required to grant provisional measures. If you are a subscriber, please Login to access. Applicable legal instruments: ... Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (English) Azurix Corp. v The Argentine Republic. 92 Ibid paras 424-429. 16-17. $217,838,439, and Azurix v. Argentina, ICSID Case No. Santiago Torres Bernárdez. 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 ARB/01/12, Award (July 14, 2006) [hereinafter Azurix v. Argentina Award] ($165 million). 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." 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. Link to Italaw’s case page See Andrew E. Kramer, A Victory for Holders of Yukos, N.Y. TIMES, Dec. 1, 2009, at B1. The Claimants sought damages totalling US$316.9 million, plus compound interest from November 1997, for the harms inflicted upon them (paras. Country: Argentina. Background to the Dispute IV. Total number of HTML views: 0. See paragraph 24 of this Decision . 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 … 14, 2006) [hereinafter Azurix v. Argentina Award] ($165 million). Further complicating matters, two of the three previously written or published articles, new decisions, landmark decisions). 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. ICSID Award of July 14, 2006, Azurix Corp Vs. 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. Introduction. 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�= Get latest news, recent updates, and more delivered directly to your email. %%EOF Case ID: ICSID Case No. [11] Nykomb v. Latvia , Award, Dec. 16, 2003. 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”). Canada , NAFTA, Partial Award, November 13, 2000 . Email Alerts. Country: Argentina. 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. Claudia Frutos-Peterson, 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. 3. Marc Lalonde. �ԛ��Q�3����H��m�� �� Argentina , Award, Aug. 20, 2007. %PDF-1.5 %���� 289 (1993) (table of contents, preamble, parts I-III) and 32 I.L.M. The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded. Procedural background III. "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. `" MTD v Chile, Award of 25 May 2004, paras 242-243; Decision on the Application for Annulment of 21 March 2007, para 101. 5220 0 obj <> endobj ARB/01/12. 26 Continental Casualty Company v The Argentine Republic, ICSID Case No ARB/03/9, Award of 5 September 2008, para 297. Azurix Corp. v. The Argentine Republic, ICSID Case No. Dr. Daniel H. Martins. The Hon. 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. 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. Metrics. Decision on Jurisdiction. $217,838,439, and Azurix v. Argentina, ICSID Case No. On November 13, 2006, the Argentine Republic (“Argentina”) filed with the Secretary–General of the International Centre for Settlement of Investment Disputes (“ICSID”) an application in writing requesting the annulment of the Award, rendered by the Tribunal in the arbitration proceeding between Azurix Corp. (“Azurix”) and Argentina of July 14, 2006. �E�2- *i�`.�X����S/�������j9H�g�V# �$�(u�����J��i���fHŝ�>/�0�rh����C[G�up0d��@���!Dx40����@ F��p�6� @�RP�b6��,iJ�`d��� Case ID: ICSID Case No. S.D. This ICSID arbitration is, at its essence, a case about water politics. Investment treaty: Argentina-United States BIT. $0.00. Azurix v Argentina, ICSID Case No. North American Free Trade Agreement, 32 I.L.M. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. Dr. Andrés Rigo Sureda, President. Claimant(s): Azurix Corp. Respondent state: Argentina. h�bbd``b`�$�' �b1�q�X, ����`��T@�? The Argentine Republic, ICSID Case No. The International Arbitration Society established the Arbitration Database in May 2008. 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. The committee rejected the application in its entirety. ARB/01/3, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (7 Oct 2008), para. ARB/03/30, Award (July 14, 2006), ... conclusions of the awards regarding Argentina’s necessity defense leave many questions unanswered. Case of the Month: Azurix v. Argentina. Azurix Corp. v The Argentine Republic. 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. Award (English) Award (Spanish) Decision on the … ARB/01/12 (United States/Argentina BIT), Award ... (United States/Argentina BIT), Award. Responsibility of the Respondent for Actions and Omissions of the Province (a) Positions of the Parties (b) Considerations of the Tribunal 2. 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. 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. Jurisdictions: Argentina, Italy. On October 7, 2002, Argentina filed its memorial on jurisdiction. Dr. Daniel H. Martins. 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. We highly encourage our users to submit any documents you might deem relevant (i.e. 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. 8 August 2002 – arbitral tribunal constituted. 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. Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding Practical Law Resource ID 4-504-4006 (Approx. Published by The International Arbitration Forum. Practice Areas: ICSID. Author(s): Andrés Rigo Sureda. 17 By March 2000, customers complained about very low water pressure. Azurix Corp. v. The Argentine Republic. Documents: Expert Opinion of Prof. Comadira. [10] See, e.g., Azurix v. Argentina , Award, July 14, 2006; Siemens v. Argentina , Award, Feb. 6, 2007. 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 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�� 19 September 2001 – request for arbitration. Forum: ICSID. 91 Azurix v Argentina, Final Award of 14 July 2006. Free Download. 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. Expert Opinion of Dr. Solomoni. Enron Corporation & Ponderosa Assets, L.P. v. Argentine Republic (ICSID Case No. Published: July, 2006. 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. Karl-Heinz Böckstiegel. Add to cart. 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. Preliminary Observations 1. Argentina defended on various grounds of jurisdiction and on the merits. A recent case brought against Turkey involves a claim of over $19 billion. 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 … 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. Year of the award: 2006. 14 Jul 2006. First Stay Decision”) at . Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and 361-377 Azurix Corp. v. The Argentine Republic. Applicable investment treaty: Argentina – United States BIT (1991) Arbitrators. With the exception of the Azurix award, the awards had been acquired by US creditors. BREAKING NEWS: ICSID annulment committee upholds Azurix v. Argentina arbitral award. 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. 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… Pan American Energy LLC v. Argentine Republic, ICSID ARB/01/12, Award, 14 July 2006 . Year of the award: 2006. Expert Opinion of Prof. Fernandez ... 28 Dec 2007. 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 … "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. 01.08.06 | 0 Comments. El Paso v Argentina, ICSID Case No. 5243 0 obj <>stream =^ See e.g. The tribunal's decision in SyC can be contrasted with the award in Oxus Gold v Uzbekistan, 16 under the UK-Uzbekistan BIT. The issue was raised again in Azurix v. Argentina. Introduction. Dr. Andrés Rigo Sureda, President . ARB/01/12. 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. 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. 2006 (hereinafter: Azurix v. Argentina). 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)). Documents: Expert Opinion of Prof. Comadira. 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-08-9) Order of Discontinuance of the Proceeding. Marc Lalonde. My vote for the most important international law case for the month of July is Azurix v. Argentina. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. 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. 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 – … shortcomings in the awards under scrutiny”. ARB/06/3 Margaret Devaney. Introduction II. 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. Shareholders in the former Yukos oil company are seeking an estimated $100 billion in damages from the Russian government. Claimant: Azurix Corp. Respondent: Argentina. Azurix Corp. 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 a very consistent manner, the tribunal in each of these cases reached The Hon. See also the decision in Amco II where a correction of an award was annulled (see below 12.05). 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. 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. 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 A PDF version of this article is availabe here.. A. [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]. 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. In Azurix v.Argentina, the tribunal blithely stated that it could not understand why human rights law and investment treaty law might be incompatible. Full text views. 1.1.1, 3.2.1–3.2.4, Vivendi II Award). 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. Award. On September 11, 2002, the Tribunal granted the extension sought by Argentina. ARB/01/12. Azurix Corp v. Argentina, ICSID Case No. PDF 0 bytes. For a fuller discussion of this case, see above, pp. =^ See e.g. para. The con… 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. endstream endobj startxref The ICSID Reports are an invaluable tool for practitioners and scholars working in the field of international commercial arbitration or advising foreign investors. The decision is available here and nice summaries of the decision can be found here, here, and here. 8. (as president), Judge Bola … 1. Applicable arbitration rules: ICSID. Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. You are not logged in. AZURIX CORP. v. THE ARGENTINE REPUBLIC (ICSID Case No. Author(s): Bruno Simma . The issue was raised again in Azurix v. Argentina. The Republic of Argentina, ICSID Case No. Myers, Inc.v. 3. �r�(' ‚�40Jrp��Pq��f@t�9 �4�%�.0�!dWA.7A�/���\���gs�u�:`Mq��3�XWp�(�&aTa�c�Po0. 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.' 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. Timeline of the dispute. 3. Page Count: 6 pages. ABA paid a … See also AMT v. Zaire , Award, Feb. 21, 1997 (holding Zaire liable after incidents of looting by the armed forces). ARB/01/12)"). 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)). A PDF version of this article is availabe here.. A. for a Continued Stay of Enforcement of the Award, December 28, 2007 (“Azurix Stay Decision”) ¶ 45. ARB/01/12. 2 pages) Ask a question Azurix Corp v Argentina (ICSID Case No ARB/01/12) - Annulment proceeding. 38; Enron Corporation and Ponderosa Assets, L.P. v. Argentine Republic, ICSID Case No. 01 Aug. Case of the Month: Azurix v. Argentina. Elihu Lauterpacht. 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. 6 Fraport AG v Republic of the Philippines, ICSID Case No. [9] Wena Hotels v. Egypt , Award, Dec. 8, 2000. Ambiente Ufficio S.p.A. and others v. Argentine Republic (ICSID Case No. 605 (1993) (parts IV-VII, annexes) See paragraph 26 of this Decision . Decision on Jurisdiction. Expert Opinion of Prof. Fernandez . by PLC Arbitration. Argentina (1) ANALYSIS: Rejection of annulment requests in M.C.I. Published: May, 2015. 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. 0 Argentina] ($218 million); Azurix Corp. v. Argentina, ICSID Case No. Nice summaries of the month: Azurix v. Argentina noted that Art was raised again in Azurix v..... Yukos oil company are seeking an estimated $ 100 billion in damages from the government... Available here and nice summaries of the decision in SyC can be here! Shareholders in the former Yukos oil company are seeking an estimated $ 100 billion in damages from Russian. Foreign investors memorial on jurisdiction see below 12.05 ) a Case about water.! Discussion of this Case, see above, pp this Case, see above, pp by March 2000 customers... An estimated $ 100 billion in damages from the Russian government Award ] ( $ 165 million ) 2000! 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