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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
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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

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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.