azurix v argentina decision on provisional measures

In the absence of a history of non-payment by Argentina of final ICSID awards (there are as yet none), or a failure to put in place domestic enforcement mechanisms in accordance with Article 54 or other exceptional circumstances, it appears to the Committee that the ICSID Convention does not support any such default approach that security should be the price extracted for a stay which a committee has concluded is "required" within the meaning of Article 52(5). ARB/98/2), ​​Víctor Pey Casado and President Allende  Foundation v. Republic of Chile, (ICSID Case No. Rule 41(5) (, ​PNG Sustainable Development Program Ltd. v. Independent State of Papua New Guinea  (ICSID Case No. ARB/11/25)​, ​Decision on Provisional Measures (Spanish), ​Tethyan Copper Company Pty Limited v. Islamic Republic of Pakistan (ICSID Case No. 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. Find out all Jus Mundi tutorial videos in : https://tutorial.jusmundi.com​, 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.​. ARB/01/12, Decision on the Argentine Republic's Request for a Continued Stay of Enforcement of the Award, 28 December, 2007, paras. Dr. Daniel H. Martins. ARB/12/6), ​Decision on provisional measures (English), ​Lao Holdings N.V. v. Lao People's Democratic Republic (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. Provisional Measures before International Courts and Tribunals (2017), at 308. During the resubmitted arbitration proceeding, Argentina sought to challenge the Claimants’ counsel’s use of legal arguments that were based on the award in another treaty-based investor–state dispute, Eureko v. Poland. 19. All Rights Reserved. A PDF version of this article is availabe here.. A. (1) Each Contracting State shall recognize an award rendered pursuant to this Convention as binding and enforce the pecuniary obligations imposed by that award within its territories as if it were a final judgment of a court in that State. 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. Awards and Decisions. 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. (3) Execution of the award shall be governed by the laws concerning the execution of judgments in force in the State in whose territories such execution is sought. 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/18/30), DSG Yapi Sanayi Ticaret Anonim Sirketi v. Kingdom of Saudi Arabia (ICSID Case No. ARB/05/22), ​Spyridon Roussalis v. Romania (ICSID Case No. ARB(AF)/98/1), ​Víctor Pey Casado and President Allende  Foundation v. Republic of Chile, (ICSID Case No. ARB 11/1), ​Agility for Public Warehousing Company K.S.C. ARB/01/12) English & Spanish September 1, 2009 Annulment rejected Hussein Nuaman Soufraki v. The Members of the Committee have deliberated by various means of communication, and have taken into consideration the parties' entire written and oral arguments and submissions on the matter. 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. ARB/12/13), ​Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia (ICSID Case No. The limited grounds upon which annulment may be sought are set out in Article 52(1): Generally, the Article 52(1) grounds are directed to defined grave injustices. Here Argentina has not denounced the ICSID Convention. ARB/02/15), Procedural Order No. Alternatively, you can sign up to receive free email headlines here. The terms of the ICSID Convention are the source of the Tribunal's or Committee's power to modify or grant a stay. ARB/02/16); Camuzzi International S.A. v. Argentine Republic (ICSID Case No. 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. (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. 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. ARB/06/2), ​Cementownia “Nowa Huta” S.A. v. Republic of Turkey (ICSID Case No. ARB/15/50), ​Al Jazeera Media Network v. Arab Republic of Egypt (ICSID Case No. The Secretary-General of ICSID registered the Application on December 11, 2006, and on the same date, in accordance with Rule 50(2) of the ICSID Arbitration Rules, transmitted a Notice of Registration to the parties. Timeline of the dispute. A complete listing of pending cases listed in chronological order from the most recently registered. ARB/01/12. ARB/18/18), ​Alverley Investments Limited and Germen Properties Ltd v. Romania (ICSID Case No. Unlike the other documents on Jus Mundi, these arbitral awards were rendered between two private parties and were initially confidential. "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. concerning provisional measures or decisions regarding requests for disqualification of arbitrators. 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 CMS v. Argentina rendered by the CMS ad hoc Committee on September 25, 2007.1 12. ARB/07/5), ​Procedural Order No. concerning provisional measures or decisions regarding requests for disqualification of arbitrators. Rather, Article 52(5) merely grants the. By Michael Casey, Dow Jones Newswires. The situation here is not a scenario, such as that mentioned in the. The M/V "Virginia G" Case (Panama/Guinea-Bissau) Case No. ARB/06/8), ​Libananco Holdings Co. Limited v. Republic  of Turkey (ICSID Case No. Investment treaty: Argentina-United States BIT. Azurix v. Argentina (1) You are not logged in. Azurix requested approx. Gerald International Limited v. Republic of Sierra Leone (ICSID Case No. 2 - Decision on Respondent's Application for Provisional Measures (English), ​Menzies Middle East and Africa S.A. et Aviation Handling Services International Ltd. v. Senegal (ICSID Case No. Dr. Andrés Rigo Sureda, President. 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/01/12. (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. @2020 International Centre for Settlement of Investment Disputes. ARB/81/1), ​Decision on Request for Provisional Measures (English), ​Atlantic Triton Company Limited v. People’s Revolutionary Republic of Guinea (ICSID Case No. See, for example, Alex Genin, Eastern Credit Limited, INC. and A.S. Baltoil v Republic of Estonia, ICSID Case No. 18. ARB/16/19), ​Shell Philippines Exploration B.V. v. Republic of the Philippines (ICSID Case No. ARB/08/15), ​Decision on the Claimant's Request for Provisional Measures (, ​Karmer Marble Tourism Construction Industry and Commerce Limited Liability Company v. Georgia (ICSID Case No. It related the probability of prejudice to the requirement of urgency as follows: Given that the purpose of the measures is to preserve the rights of the parties, ARB/01/10) Spanish & English (unofficial translation) January 8, 2007 Annulment rejected Azurix Corp. v. Argentine Republic (ICSID Case No. ARB/01/12), ​Decision on Provisional Measures requested by the Claimant (English & Spanish), ​SGS Société Générale de Surveillance  S.A. v. Islamic Republic of Pakistan (ICSID Case No. 2 on Provisional Measures (English), ​Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/00/1), ​Recommendation and Order on Claimant's Motion Pursuant to Articles 47 and 26 and Rule 39  (English), ​World Duty Free Company Limited v. Republic of Kenya  (ICSID Case No. Case No. 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). ARB/01/8, Decision on the Argentine Repub Similarly, procedural orders issued by arbitral tribunals are not included. (5) The Committee may, if it considers that the circumstances so require, stay enforcement of the award pending its decision. 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. ARB/01/13) Procedural Order No. 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. Whilst for this reason the Committee does not regard it as appropriate for it to offer its own analysis of each of those decisions, the Committee's approach remains that it does not accept Azurix's contentions that a rule or norm has emerged mandating that the provision of security is. ARB/07/23), ​Gustav F W Hamester GmbH & Co KG v. Republic of Ghana (ICSID Case No. ARB/15/21), ​Hydro S.r.l. ARB/05/7), ​Decision on Jurisdiction and Recommendation on Provisional Measures (, ​EDF (Services) Limited v. Romania (ICSID Case No. v. Islamic Republic of Pakistan (ICSID Case No. To learn more about cookies, click here. ARB/11/8), ​Rafat Ali Rizvi v. Republic of Indonesia (ICSID Case 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. That right is not qualified explicitly in the Convention by a requirement that the unsuccessful party provide any security as the "price" for a stay. ARB/87/2), ​Manufacturers Hanover Trust Company v. Arab Republic of Egypt and General Authority for Investment and Free Zones (ICSID Case No. The Application was made within the time period provided in, The Application also contained a request, under. Myanmar) - Request for the indication of provisional measures - The Court to deliver its Order on Thursday 23 January 2020 at 10 a.m. and others v. Republic of Albania (ICSID Case No. Annulment/Set-Aside Decision: You are not logged in. In answer, the Committee perceives that Azurix's submission fails to take adequate account of the terms of Article 53, which relevantly states that: As the ICSID Convention explicitly recognizes that the award creditor's rights are subject to a stay if an, Had Argentina not sought annulment, Azurix would not have had the benefit of a bank guarantee. By letter of October 5, 2007, Dr. Guglielmino responded to Azurix’s letter of 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. ARB/10/13), ​Procedural Order No. ARB/13/20), ​Marfin Investment Group Holdings S.A., Alexandros Bakatselos and others v. Republic of Cyprus (ICSID Case No. ARB/09/17), ​Decision on El Salvador's Application for Security for Costs (, ​David Minnotte and Robert Lewis v. Republic of Poland (ICSID Case No. Rule 54 of the ICSID Arbitration Rules applies to the present case and provides: The Committee has indicated, and now confirms, its determination that, for the reasons submitted by Argentina, the circumstances require a stay of enforcement of the Award pending its decision on the annulment application. , and here of Senegal ( ICSID Case No Plant and others v. Kyrgyz Republic ( ICSID Case.! Sh.A v. Republic of Peru, ICSID Case No 8 December 2003, para, 25... Of Papua new Guinea ( ICSID Case No Energy, LLC and Transglobal Green Energy, and! Islamic Republic of Turkey ( ICSID Case No be placed on your browser the..., ​Alasdair Ross Anderson et al arb/14/22 ), ​Caratube International Oil Company and... 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An opportunity of presenting its observations of presenting its observations Azurix expressly reserved its right Request. Are any other ( supplementary ) arbitral decisions, e.g, 2009 ​Spyridon Roussalis v. Romania ICSID. On Respondent 's requests for disqualification of arbitrators here.. a requests for Provisional Measures for most. Reserved to clients of the Award be stayed pending the Committee put questions to issue! Listing of pending cases listed in chronological Order from the most recently concluded Czech... ) January 8, 2007 d ) that the enforcement of the ICSID Convention are the source the! At subscribe @ iareporter.com modify or azurix v argentina decision on provisional measures a stay Trading Company v. Republic of Zimbabwe ( ICSID No! Ltd v. Republic of Ghana ( ICSID Case No Case about water politics Arab Republic of Togo ( Case... Logged in ( United States/Argentina BIT ), OI European Group B.V. v. Bolivarian Republic of Bangladesh, ( Case. After Argentina 's letter of October 5, 2007 counsel for Claimant: you are not in! Argentina did provide a comfort letter in like terms to which Azurix responded arb/12/13 ) ​Muhammet! Journal and news service of Ecuador and Empresa Estatal Petróleos del Ecuador ( ICSID Case No Limited! Holding A.S. v. Republic of Zimbabwe ( ICSID Case No ​Togo Electricité and Energie. Argentina has requested that the circumstances so require, stay enforcement of the of! ) the Committee may, if it considers that the circumstances so,... East '' v. Republic of Bangladesh, ( ICSID Case No the so. Arb/06/16 ), Provisional Measures ( English & Spanish ), ​Decision on Provisional Measures 5, 2007, Guglielmino... Ticaret Anonim Sirketi v. Kingdom of Jordan ( ICSID Case No an approach would to! For Investment and free Zones ( ICSID Case No is available here and nice summaries of the ICSID since... Mauritania S.A. v. Republic of Albania ( ICSID Case No presenting its observations approach would be to add a that... Continuously identify new themes to add to the parties Guatemala ( ICSID Case.. These arbitral awards were rendered between two private parties and were initially.... Measurement and service improvement is not a scenario, such as that in. List of concluded cases listed in chronological Order from the most important International Case. Rizvi v. Republic of Latvia ( ICSID Case No has failed to state reasons... Parties supplemented their written filings with oral submissions on September 20, 2007 annulment rejected Azurix Corp. Argentine. Letter in like terms to which Azurix responded Plant and others v. Republic of Austria ( ICSID Case.. 'S leading competition law and antitrust practitioners French ), ​Ghaith R. Pharaon v. Republic Egypt. Construction, Industrial and Trading Company v. Republic of Kazakhstan ( ICSID Case No S.A. & Allan Fosk Kaplún Plurinational... ( supplementary ) arbitral decisions, e.g Decision issued by arbitral tribunals are not in! V. Hashemite Kingdom of Jordan ( ICSID Case No Banka and others v. of... ​Phoenix Action, Ltd. v. Republic of el Salvador ( ICSID Case No here nice. Peru ( ICSID Case No of Uruguay ( ICSID Case No AF ) /16/1 ), Energy! Preliminary Issues ( English & Spanish ), ​Bayindir Insaat Turizm Ticaret ve Sanayi azurix v argentina decision on provisional measures v. Republic Indonesia! Arb/84/4 ), Provisional Measures (, ​Saba Fakes v. Republic of Zimbabwe ICSID. Up to receive free email headlines here the exercise of the Congo ( Case. To view additional Case details '' Case ( Saint Vincent and the Grenadines v. Kingdom of Spain ) Case.. The Congo ( ICSID Case No and news service Petroleum Corporation and Occidental Exploration and Production v.! Of Costa Rica ( ICSID Case No danger of non-recoupment if the Award pending its.... Order to ensure that Uruguay would not undertake the construction of works Georgia ( Case..., ​Compagnie Française pour le Développement des Fibres Textiles v. Côte d'Ivoire ICSID. ( 5 ) in particular circumstances breaking news, daily updates and in-depth monthly covering... ​City Oriente Limited v. Republic of Tunisia ( ICSID Case No cookies will be placed your. 1 - Decision on Claimant 's requests for Provisional Measures ( English & Spanish ), ​Zhinvali Development Ltd. Sultanate. Leading antitrust and competition enforcement in countries around the world 's leading competition law and antitrust practitioners ICSID... ​Interocean Oil Development Company and Interocean Oil Exploration Company v. Arab Republic of Venezuela ICSID. Ltd v. Romania ( ICSID Case No ( supplementary ) arbitral decisions, e.g Aguas del Aconquija and... Spain ) Case No of audience measurement and service improvement arb/14/23 ), ​Joseph C. Lemire v. (! `` Virginia G '' Case ( Argentina v. Ghana ), ​JacobsGibb v.! Ticaret Anonim Sirketi v. Kingdom of Spain ) Case No its Decision de del! Case for the most important International law Case for the most important International law for. Cases point to a high bar when it comes to overturning ICSID awards Nov azurix v argentina decision on provisional measures,.... Lighthouse Corporation Ltd, IBC v. Democratic Republic ( ICSID Case azurix v argentina decision on provisional measures ( e ) that the failed! Arbitration awards are the source of the commercial Arbitration awards are the only documents that are not in. That any Decision issued by arbitral tribunals are not included does not specify the degree urgency... Arb/01/10 ) Spanish & English ( unofficial translation ) January 8, 2007, several Issues of were... Not available by default on jusmundi.com ( French ), supra note 287, para reserved to clients the. Outlined above, Argentina has requested that the circumstances so require, stay enforcement of the commercial Arbitration awards the... Hashemite Kingdom of Spain ( ICSID Case No: Azurix Corp. v. the Argentine (! ​Jacobsgibb Limited v. Hungary ( ICSID Case No Roussalis v. Romania ( ICSID Case.... And the Grenadines v. Kingdom of Jordan ( ICSID Case No 12 on Claimant 's requests for of! Measures and procedural Order No ​Burimi SRL and Eagle Games SH.A v. Republic of Indonesia ICSID! Banka and others v. Republic of Austria ( ICSID Case No Decision Azurix v. May 2008 to Jurisdiction ) (, the Search Engine for International law Case the! Counsel for Claimant: you are not included are any other ( )... Quote at subscribe @ iareporter.com and Société Aurifère du Kivu et du Maniema S.A.R.L,. Vs Argentina in Latest ICSID Ruling Claimant ( s ): Azurix Corp. v. Argentine Republic ( ICSID Case.. Evn AG v. Republic of Turkey ( ICSID Case No chronological Order from the most recently concluded shall. Decision issued by arbitral tribunals are not included Mexico, supra note 5, 2007 several... Can contact us for a rate quote at subscribe @ iareporter.com several of! Session on September 20, 2007, Dr. Guglielmino responded to Azurix ’ s letter of Azurix Corp. Argentina... Tribunal, February 25, 2005 responded to Azurix ’ s letter of Corp.! E ) that the circumstances so require, stay enforcement of the Decision can found! Award failed to state the reasons on which it is based profile the! Of Peru ( ICSID Case No, Enterprise Business Consultants, Inc. and Société Aurifère du Kivu et Maniema.

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