Hostname: page-component-7479d7b7d-767nl Total loading time: 0 Render date: 2024-07-08T14:13:09.891Z Has data issue: false hasContentIssue false
  • English
  • Français

ICSID Ad Hoc Committee: Decision to Terminate Stay of Enforcement of Arbitral Award in Sempra Int’l Energy V. Argentine Republic

Published online by Cambridge University Press:  27 February 2017

Andrew Newcombe
Get access Rights & Permissions [Opens in a new window]

Abstract

An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.
Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
International Legal Documents
Information
International Legal Materials , Volume 48 , Issue 6 , December 2009 , pp. 1448 - 1454
Copyright
Copyright © American Society of International Law 2009

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

* This text was reproduced and reformatted from the Arbitration Database website: (visited Oct. 21, 2009) <http://arbitration.fr/resources/ICSID-ARB-02-16-ENGLISH.pdf>.

1 Sempra Energy Int’l v. Argentine Republic, ICSID Case No. ARB/02/16, Decision on Sempra Energy International’s Request for the Termination of the Stay of Enforcement of the Award (Aug. 7, 2009), available at http://ita.law.uvic.ca/documents/SempraDecisiononTerminationofStayofEnforcement.pdf.

2 United Nations Conference on Trade and Development, May 28, 2009, Latest Developments in Investor-State Dispute Settlement ¶ 3, UNCTAD/WEB/DIAE/IA/2009/6/Rev1, available at http://www.unctad.org/en/docs/webdiaeia20096_en.pdf.

3 See Azurix v. Argentine Republic, ICSID Case No. ARB/01/ 12, Award (July 14, 2006), available at http://ita.law.uvic.ca/documents/AzurixAwardJuly2006.pdf; BG Group Plc v. Argentine Republic, UNCITRAL Arb., Final Award (Dec. 24, 2007), available at http://ita.law.uvic.ca/documents/BGaward_000.pdf; CMS Gas Transmission Co. v. Argentine Republic, ICSID Case No. ARB/01/8, Award (May 12, 2005), available at http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=showDoc&docId=DC504_En&caseId=C4; Compañiá de Aguas del Aconquija S.A. v. Argentine Republic, ICSID Case No. ARB/97/3, Award (Nov. 21, 2000), available at http://ita.law.uvic.ca/documents/Eaux-Award.pdf; Continental Casualty Co. v. Argentine Republic, ICSID Case No. ARB/03/9 (Sept. 5, 2008), available at http://ita.law.uvic.ca/documents/ContinentalCasualtyAward.pdf; Enron Corp. v. Argentine Republic, ICSID Case No. ARB/01/ 3, Award (May 22, 2007), available at http://ita.law.uvic.ca/documents/Enron-Award.pdf; LG&E v. Argentine Republic, ICSID Case No. ARB/02/1, Decision on Liability (Oct. 3, 2006), available at http://ita.law.uvic.ca/documents/ARB021_LGE-Decision-on-Liability-en.pdf; National Grid plc v. Argentine Republic, UNCITRAL Arb. Case N. Case 1:09-cv-00248-RBW, Award (Nov. 3, 2008), available at http://ita.law.uvic.ca/documents/NGvArgentina.pdf; Sempra Energy Int’l v. Argentine Republic, ICSID Case No. ARB/02/16, Award (Sept. 28, 2007), available at http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=showDoc&docId=DC694_En&caseId=C8 [hereinafter Sempra Award].

4 There are no public reports of payment, and the author’s personal communications with claimant counsel suggest that awards remain unpaid.

5 Sempra Energy Int’l v. Argentine Republic, ICSID Case No. ARB/02/16, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (Mar. 5, 2009), available at http://ita.law.uvic.ca/documents/Sempra-Stay.pdf [hereinafter Sempra First Stay Decision].

6 Convention on the Settlement of Investment Disputes between States and Nationals of Other States, Mar. 18, 1965, 4 I.L.M. 524 (1965).

7 For detailed commentary on Article 52, see Christoph, H. Schreuer, et al., The ICSID Convention: A Commentary (2d ed. 2009 Google Scholar).

8 Sempra First Stay Decision, supra note 5, ¶ 24.

9 Id. ¶ 101.

10 Id. ¶ 103.

11 Id. ¶ 53.

12 See Continental Casualty Co. v. Argentine Republic, ICSID Case No. ARB/03/9, Decision on Argentina’s Application for a Stay of Enforcement of the Award, ¶ 12 (Oct. 23, 2009), available at http://ita.law.uvic.ca/documents/ContCasStayEnforcement_001.pdf (citing ad hoc committees in Enron Corp. & Ponderosa Assets, L.P. v. Argentine Republic, ICSID Case No. ARB/01/3, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award (Rule 54 of the ICSID Arbitration Rules), ¶¶ 54-85 (Oct. 7, 2008), available at http://ita.law.uvic.ca/documents/Enron-Stay_001.pdf; Compañíá de Aguas del Aconquija S.A. & Vivendi Universal S.A. v. Argentine Republic, ICSID Case No. ARB/97/3, Decision on the Argentine Request for a Continued Stay of Enforcement of the Award rendered on 20 August 2007 (Rule 54 of the ICSID Arbitration Rules), ¶¶ 31-37 (Nov. 4, 2008), available at http://www.arbitration.fr/resources/ICSID-ARB-97-3.pdf [hereinafter Vivendi Stay Decision]; Sempra First Stay Decision, supra note 5, ¶¶ 32-53.

13 See MTD Equity Sdn. Bhd. v. Chile, ICSID Case No. ARB/ 01/7, Decision on the Respondent’s Request for a Continued Stay of Execution, ¶ 36 (June 1, 2005), available at http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=showDoc&docId=DC505_En&caseId=C4; CMS Gas Transmission Co. v. Argentine Republic, ICSID Case No. ARB/01/8, Decision on the Argentine Republic’s Request for a Continued Stay of Enforcement of the Award, ¶ 50 (Sept. 1, 2006), available at http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=show-Doc&docId=DC505_En&caseId=C4.

14 Vivendi Stay Decision, supra note 12.

1 Enron Creditors Recovery Corporation (formerly Enron Corporation) and Ponderosa Assets, L.P. v. Argentine Republic (ICSID Case No. ARB/01/3) – Annulment Proceeding.

2 Apart from generally pointing to the risk of non-recoupment from an award creditor (Memorial on the Continued Stay of Enforcement of the Award of 7 November 2008, paragraphs 33 and 34), Argentina has not offered any specific indication that this would represent an actual risk in respect of Sempra. Sempra has undertaken – most recently in its letter of 16 July 2009 – to keep any funds received in satisfaction of the Award in a separate escrow account pending the decision in the present annulment proceedings.

3 Decision of 5 March 2009, paragraphs 86 and 87.