Matter
Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/02/16)
Sempra Energy International v Argentine Republic investment arbitration, with records covering jurisdiction and annulment and enforcement.
Procedural record
- 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.
Participants
Sempra Energy International
Argentine Republic
International Centre for Settlement of Investment Disputes
- Arbitrator
- Francisco Orrego Vicuna
- Arbitrator
- Marc Lalonde
- Arbitrator
- Sandra Morelli Rico
- Tribunal secretary
- Gonzalo Flores
2 years, 4 months and 17 days later · 870 days
- 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.
Participants
Sempra Energy International
Argentine Republic
International Centre for Settlement of Investment Disputes
- Arbitrator
- Francisco Orrego Vicuna
- Arbitrator
- Marc Lalonde
- Arbitrator
- Sandra Morelli Rico
- Tribunal secretary
- Gonzalo Flores
- 28 September 2007United States
28 September 2007United States
Partial Dissenting Opinion (Attached to the Award)
International Centre for Settlement of Investment Disputes
Participants
Sempra Energy International
Argentine Republic
International Centre for Settlement of Investment Disputes
- Arbitrator
- Francisco Orrego Vicuna
- Arbitrator
- Marc Lalonde
- Arbitrator
- Sandra Morelli Rico
1 year, 5 months and 5 days later · 524 days
- 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.
Participants
Sempra Energy International
Argentine Republic
International Centre for Settlement of Investment Disputes
- Arbitrator
- Christer Soderlund
- Arbitrator
- David A.O. Edward
- Arbitrator
- Andreas J. Jacovides
- Tribunal secretary
- Gonzalo Flores
5 months and 2 days later · 155 days
- 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.
Participants
Sempra Energy International
Argentine Republic
International Centre for Settlement of Investment Disputes
- Arbitrator
- Christer Soderlund
- Arbitrator
- David A.O. Edward
- Arbitrator
- Andreas J. Jacovides
- Tribunal secretary
- Gonzalo Flores
10 months and 22 days later · 326 days
- 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.
Participants
Sempra Energy International
Argentine Republic
International Centre for Settlement of Investment Disputes
- Arbitrator
- Christer Soderlund
- Arbitrator
- David A.O. Edward
- Arbitrator
- Andreas J. Jacovides
- Tribunal secretary
- Gonzalo Flores