Arbitral Digest

Matter

Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/02/16)

Case no.
ARB/02/16
Seat
United States
Applicable rules
ICSID Arbitration Rules
  1. 11 May 2005United States

    11 May 2005United States

    Decision on Objections to Jurisdiction

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided that the dispute fell within the jurisdiction of the Centre and the competence of the Tribunal, allowing the arbitration to continue.

    Supporting details

    6 participants
    Sempra Energy International
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Marc Lalonde
    Tribunal secretary
    Gonzalo Flores

    2 years, 4 months and 17 days later · 870 days

  2. 28 September 2007United States

    28 September 2007United States

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that Argentina breached its obligations to accord fair and equitable treatment and to observe obligations entered into with regard to the investment. It awarded Sempra US$128,250,462 plus interest, confirmed discontinuance of the Stamp Tax Claims on stated terms, allocated the arbitration costs equally, directed each party to bear its own legal costs, and dismissed the remaining claims.

    Supporting details

    6 participants
    Sempra Energy International
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Marc Lalonde
    Tribunal secretary
    Gonzalo Flores
  3. 28 September 2007United States

    1 year, 5 months and 5 days later · 524 days

  4. 5 March 2009United States

    5 March 2009United States

    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 ad hoc Committee continued the stay of enforcement during the annulment proceedings on condition that Argentina place USD75,000,000 in escrow within 120 days. It provided for collection by Sempra in the stated circumstances and authorized possible termination of the stay if Argentina failed to comply.

    Supporting details

    6 participants
    Sempra Energy International
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Gonzalo Flores

    5 months and 2 days later · 155 days

  5. 7 August 2009United States

    7 August 2009United States

    Decision on Sempra Energy International's Request for the Termination of the Stay of Enforcement of the Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Committee found that Argentina had failed to place USD75 million in escrow within the required period and had not satisfied the condition for continuation of the stay. It terminated the stay of enforcement of the Award as of the decision date and found no basis to conclude that Sempra had breached the Committee's requirement concerning conservatory measures.

    Supporting details

    6 participants
    Sempra Energy International
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Gonzalo Flores

    10 months and 22 days later · 326 days

  6. 29 June 2010United States

    29 June 2010United States

    Decision on Annulment

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee annulled the Award of 28 September 2007 in its entirety for manifest excess of powers because the Tribunal failed to apply Article XI of the BIT. It ordered Sempra to reimburse Argentina for the Centre's expenses in the annulment proceeding, including arbitrators' fees and expenses.

    Supporting details

    6 participants
    Sempra Energy International
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Gonzalo Flores

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Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/02/16) · Matter