Arbitral Digest

Matter

CMS Gas Transmission Company v. Argentine Republic (ICSID Case No. ARB/01/8)

Case no.
ARB/01/8
Applicable rules
ICSID Institution Rules · ICSID Arbitration Rules
  1. 17 July 2003Arbitration

    17 July 2003Arbitration

    Decision of the Tribunal on Objections to Jurisdiction

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal affirmed that the dispute was within the jurisdiction of the Centre and the competence of the Tribunal and ordered continuation of the procedure.

    Supporting details

    International Centre for Settlement of Investment Disputes
  2. 17 July 2003United States

    17 July 2003United States

    Decision of the Tribunal on Objections to Jurisdiction dated July 17, 2003

    ICSID Tribunal

    Decision summary
    The Tribunal decided that the dispute was within the jurisdiction of the Centre and the competence of the Tribunal and ordered continuation of the procedure.

    Supporting details

    13 participants
    CMS Gas Transmission Company
    Representative
    Lucy Reed (For: CMS Gas Transmission Company)
    Representative
    Sylvia Noury (For: CMS Gas Transmission Company)
    Representative
    Nigel Blackaby (For: CMS Gas Transmission Company)
    Argentine Republic
    Representative
    Guido Santiago Tawil (For: Argentine Republic)
    Representative
    Ruben Miguel Citara (For: Argentine Republic)
    Representative
    Jonathan Sutcliffe (For: Argentine Republic)
    Representative
    Ignacio Suarez Anzorena (For: Argentine Republic)
    ICSID Tribunal
    Other
    Arbitrator
    Marc Lalonde
    Arbitrator
    Francisco Rezek
    Tribunal secretary
    Margrete L. Stevens

    1 year, 9 months and 25 days later · 665 days

  3. 12 May 2005Arbitration

    12 May 2005Arbitration

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that Argentina breached obligations to accord fair and equitable treatment and to observe obligations entered into with regard to the investment. It ordered Argentina to pay CMS US$133.2 million in compensation and specified interest, and to bear one half of the arbitration costs while each party bore its own legal costs. Upon payment of the compensation and an additional US$2,148,100, CMS was to transfer its TGN shares to Argentina; all other claims were dismissed.

    Supporting details

    11 participants
    CMS Gas Transmission Company
    Representative
    Lucy Reed (For: CMS Gas Transmission Company)
    Representative
    Sylvia Noury (For: CMS Gas Transmission Company)
    Representative
    Nigel Blackaby (For: CMS Gas Transmission Company)
    Argentine Republic
    Representative
    Guido Santiago Tawil (For: Argentine Republic)
    Representative
    Osvaldo Cesar Guglielmino (For: Argentine Republic)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Marc Lalonde
    Arbitrator
    Francisco Rezek
    Tribunal secretary
    Margrete Stevens

    1 year, 3 months and 20 days later · 477 days

  4. 1 September 2006Arbitration

    1 September 2006Arbitration

    Decision on the Argentine Republic's Request for a Continued Stay of Enforcement of the Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Committee continued in force the stay of enforcement of the Award pending its decision on the application for annulment and did not require Argentina to provide a bank guarantee.

    Supporting details

    International Centre for Settlement of Investment Disputes
  5. 1 September 2006France

    1 September 2006France

    Decision on the Argentine Republic's Request for a Continued Stay of Enforcement of the Award dated September 1, 2006

    ICSID ad hoc Committee

    Decision summary
    The Committee continued in force the stay of enforcement of the Award pending its decision on Argentina's application for annulment, without requiring Argentina to provide a bank guarantee. It held that the one-year limit for the share transfer was stayed because payment of compensation remained stayed.

    Supporting details

    16 participants
    Argentine Republic
    Representative
    Guido Santiago Tawil (For: Argentine Republic)
    Representative
    Hector Huici (For: Argentine Republic)
    Representative
    Ignacio Minorini Lima (For: Argentine Republic)
    Representative
    Osvaldo Cesar Guglielmino (For: Argentine Republic)
    Representative
    Javier H. Rubinstein (For: Argentine Republic)
    Representative
    Jeffrey W. Sarles (For: Argentine Republic)
    CMS Gas Transmission Company
    Representative
    Lucy Reed (For: CMS Gas Transmission Company)
    Representative
    Reza Mohtashami (For: CMS Gas Transmission Company)
    Representative
    Daina Bray (For: CMS Gas Transmission Company)
    Representative
    Nigel Blackaby (For: CMS Gas Transmission Company)
    ICSID ad hoc Committee
    Other
    Arbitrator
    Nabil Elaraby
    Tribunal secretary
    Gonzalo Flores

    1 year and 24 days later · 389 days

  6. 25 September 2007France

    25 September 2007France

    Decision of the ad hoc Committee on the Application for Annulment of the Argentine Republic dated September 25, 2007

    ICSID ad hoc Committee

    Decision summary
    The ad hoc Committee partially upheld Argentina's application for annulment by annulling the Award's finding concerning obligations entered into with regard to the investment guaranteed in Article II(2)(c) of the Treaty. It dismissed Argentina's other claims, lifted the stay of enforcement, required Argentina to bear one half of the Centre's costs, and ordered each party to bear its own representation costs.

    Supporting details

    3 authorities · 16 participants
    Argentine Republic
    Representative
    Guido Santiago Tawil (For: Argentine Republic)
    Representative
    Hector Huici (For: Argentine Republic)
    Representative
    Ignacio Minorini Lima (For: Argentine Republic)
    Representative
    Osvaldo Cesar Guglielmino (For: Argentine Republic)
    Representative
    Philippe Sands (For: Argentine Republic)
    Representative
    Alison Macdonald (For: Argentine Republic)
    CMS Gas Transmission Company
    Representative
    Lucy Reed (For: CMS Gas Transmission Company)
    Representative
    Reza Mohtashami (For: CMS Gas Transmission Company)
    Representative
    Daina Bray (For: CMS Gas Transmission Company)
    Representative
    Nigel Blackaby (For: CMS Gas Transmission Company)
    ICSID ad hoc Committee
    Other
    Arbitrator
    Nabil Elaraby
    Tribunal secretary
    Gonzalo Flores

    Authorities cited

    3
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, 1965)
      statute
    • Treaty between the United States of America and the Argentine Republic Concerning the Reciprocal Encouragement and Protection of Investment (United States-Argentina Bilateral Investment Treaty, November 14, 1991)
      statute
    • Ekmekdjian v. Sofovich (Fallos: 315:1492, July 7, 1992)
      Case law

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CMS Gas Transmission Company v. Argentine Republic (ICSID Case No. ARB/01/8) · Matter