Arbitral Digest

Matter

Impregilo S.p.A. v. Argentine Republic (ICSID Case No. ARB/07/17)

Case no.
ARB/07/17
Applicable rules
ICSID Arbitration Rules in force as of April 2006
  1. 21 June 2011Arbitration

    21 June 2011Arbitration

    Award dated 21 June 2011

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal upheld ICSID jurisdiction and rejected Argentina's objections, except insofar as contractual breaches fell outside its competence unless they also violated the Argentina-Italy BIT. It found no expropriation or nationalization, found a breach of fair and equitable treatment, and ordered Argentina to pay Impregilo USD 21,294,000 with annual compound interest at 6% from 11 July 2006 until payment. Each party was ordered to bear its own proceeding costs and half of the ICSID and Tribunal fees and expenses.

    Supporting details

    3 authorities · 5 participants
    Impregilo S.p.A.
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Hans Danelius
    Arbitrator
    Brigitte Stern

    Authorities cited

    3
    • Agreement between Italy and Argentina for the Promotion and Protection of Investments (Signed 22 May 1990; entered into force 14 October 1993)
      statute
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, opened for signature at Washington on 18 March 1965)
      statute
    • Case Concerning the Factory at Chorzow (Permanent Court of International Justice, Series A, No. 17, Judgment of 13 September 1928)
      case-law

    2 years, 7 months and 3 days later · 948 days

  2. 24 January 2014Arbitration

    24 January 2014Arbitration

    Decision of the ad hoc Committee on the Application for Annulment dated 24 January 2014

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee unanimously dismissed Argentina's Application for Annulment in its entirety, terminated the stay of enforcement, ordered each party to bear its own legal costs and expenses, and ordered Argentina to bear the costs of the annulment proceeding, including the Committee members' fees and expenses and ICSID facility costs.

    Supporting details

    1 authority · 14 participants
    Argentine Republic
    Representative
    Angelina Maria Esther Abbona (For: Argentine Republic)
    Impregilo S.p.A.
    Representative
    R. Doak Bishop (For: Impregilo S.p.A.)
    Representative
    Roberto Aguirre Luzi (For: Impregilo S.p.A.)
    Representative
    Craig S. Miles (For: Impregilo S.p.A.)
    Representative
    Silvia Marchilli (For: Impregilo S.p.A.)
    Representative
    David Weiss (For: Impregilo S.p.A.)
    Representative
    Louis-Alexis Bret (For: Impregilo S.p.A.)
    Representative
    King & Spalding LLP (For: Impregilo S.p.A.)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Teresa Cheng
    Tribunal secretary
    Alicia Martin Blanco

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, opened for signature at Washington on 18 March 1965)
      statute

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Impregilo S.p.A. v. Argentine Republic (ICSID Case No. ARB/07/17) · Matter