Arbitral Digest

Matter

Azurix Corp. v. Argentine Republic (ICSID Case No. ARB/01/12)

Case no.
ARB/01/12
Applicable rules
ICSID Arbitration Rules in force since September 26, 1984
  1. 8 December 2003Arbitration

    8 December 2003Arbitration

    Decision on Jurisdiction dated 8 December 2003

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that Azurix had shown, prima facie, a claim against Argentina under the BIT, that Azurix had standing to bring the claim, and that the dispute was within the jurisdiction of the Centre and the competence of the Tribunal. It rejected Argentina's request to suspend the proceeding and deferred the costs of the jurisdictional phase to the merits.

    Supporting details

    3 authorities · 8 participants
    Azurix Corp.
    Representative
    R. Doak Bishop (For: Azurix Corp.)
    Argentine Republic
    Representative
    Guido Santiago Tawil (For: Argentine Republic)
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Claudia Frutos-Peterson

    Authorities cited

    3
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (March 18, 1965, 575 U.N.T.S. 159)
      convention
    • Treaty between the United States of America and the Argentine Republic Concerning the Reciprocal Encouragement and Protection of Investment (November 14, 1991; entered into force October 20, 1994)
      treaty
    • Buenos Aires Province Law 11.820 (Law 11.820)
      statute

    2 years, 7 months and 6 days later · 949 days

  2. 14 July 2006Arbitration

    14 July 2006Arbitration

    Award dated 14 July 2006

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that Argentina breached the BIT by failing to accord fair and equitable treatment and full protection and security, and by taking arbitrary measures impairing Azurix's use and enjoyment of its investment. It awarded Azurix US$165,240,753 plus compound interest, allocated the arbitration costs, and dismissed all other claims.

    Supporting details

    2 authorities · 8 participants
    Azurix Corp.
    Representative
    R. Doak Bishop (For: Azurix Corp.)
    Argentine Republic
    Representative
    Guido Santiago Tawil (For: Argentine Republic)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Marc Lalonde
    Tribunal secretary
    Claudia Frutos-Peterson

    Authorities cited

    2
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (March 18, 1965, 575 U.N.T.S. 159)
      convention
    • Treaty between the United States of America and the Argentine Republic Concerning the Reciprocal Encouragement and Protection of Investment (November 14, 1991; entered into force October 20, 1994)
      treaty

    1 year, 5 months and 14 days later · 532 days

  3. 28 December 2007Arbitration

    28 December 2007Arbitration

    Decision on the Continued Stay of Enforcement of the Award dated 28 December 2007

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee decided that the stay on enforcement of the Award should continue pending its decision on Argentina's application for annulment and declined to order security during the stay.

    Supporting details

    2 authorities · 7 participants
    Azurix Corp.
    Representative
    R. Doak Bishop (For: Azurix Corp.)
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Gavan Griffith
    Arbitrator
    Bola Ajibola
    Arbitrator
    Michael Hwang
    Tribunal secretary
    Claudia Frutos-Peterson

    Authorities cited

    2
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (March 18, 1965, 575 U.N.T.S. 159)
      convention
    • Vienna Convention on the Law of Treaties (May 23, 1969)
      convention

    1 year, 8 months and 4 days later · 613 days

  4. 1 September 2009Arbitration

    1 September 2009Arbitration

    Decision on the Application for Annulment dated 1 September 2009

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee dismissed Argentina's application for annulment in its entirety. It ordered Argentina to bear all Centre expenses, ordered each party to bear its own litigation costs, and terminated the stay of enforcement of the Award.

    Supporting details

    1 authority · 7 participants
    Azurix Corp.
    Representative
    R. Doak Bishop (For: Azurix Corp.)
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Gavan Griffith
    Arbitrator
    Bola Ajibola
    Arbitrator
    Michael Hwang
    Tribunal secretary
    Natali Sequeira

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (March 18, 1965, 575 U.N.T.S. 159)
      convention

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Azurix Corp. v. Argentine Republic (ICSID Case No. ARB/01/12) · Matter