US$ 665 million in damages plus interest. If you are not a subscriber, you can contact us for a rate quote at subscribe@iareporter.com. The summary of the dispute describes in very general terms the conduct allegedly in breach of IIA obligations as argued by the claimant (non-exhaustive). The dispute was brought about by the US-based water firm Azurix , which sought compensation for losses related to measures adopted by the Buenos Aires Province. More broadly, this case marks the first of many ICSID claims recently filed against Argentina that have reached the merits. My vote for the most important international law case for the month of July is Azurix v. Argentina. Year of Filing: 2001 Case Status: Annulment Concluded Claimant(s): Azurix Corp. … ARB/01/12. 102 Azurix v. Argentina, Decision on Provisional Measures, 6 August 2003, para. claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. This ICSID arbitration is, at its essence, a case about water politics. • ICC: International Chamber of Commerce (International Court of Arbitration) A link to the relevant case page at http://italaw.com is provided where such page is available, so that users could browse all documents relating to the case at hand. If you are a subscriber, please Login to view additional case details. In Azurix v. Argentina (above, § 58), the Tribunal held that a US company’s indirect investment in a water concession in Argentina held through a local subsidiary was an “investment” in the sense of the BIT and that it had precisely been the intention of the Contracting Parties to cover that type of interests in order to protect the real party concerned. Decision on Jurisdiction. Main goals of UNCTAD’s Work Programme on IIAs The company owned and operated facilities in North America (mainly Canada), Europe, and South America.In 2007, Azurix was awarded a $165 million claim against the government of Argentina by an international arbitral tribunal; the company is currently involved in a dispute over Argentina's refusal to pay the claim. Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and Protection of Investment between the Argentine Republic and the United States of America (hereinafter “the BIT”; bilateral investment treaties in general will be referred to as BITs), international law and Argentine law in respect of Azurix's investment in a utility which … 361-377 ARB/01 ... - italaw Jul 14, 2006 - Dr. Andrés Rigo Sureda, a Spanish national, was appointed President ..... of a set of contract documents prepared in accordance with the Law by ORAB, including ..... To interpret the Contract otherwise, it is to admit that the. ARB/01/12, Award, 14 July 2006 . MARTINEZ.FINAL.V3 (DO NOT DELETE) 1/9/2013 12:41 PM 150 DUKE JOURNAL OF COMPARATIVE & INTERNATIONAL LAW [Vol 23:149 awarded are the conflicting interpretations of the necessity of Argentina’s emergency measures as a response to the economic crisis.5 In many of the claims against it, Argentina consistently raised the defense that it should be Alternatively, you can sign up to receive free email headlines here. Please cite as: UNCTAD, Investment Dispute Settlement Navigator, available at https://investmentpolicy.unctad.org/investment-dispute-settlement. Azurix Corp. is a water services company, headquartered in Houston, Texas. Administering institution Expert Opinion of Prof. Fernandez. Parmi les investisseurs en Argentine, on peut citer : Vivendi, Suez, Sociedad General de Aguas de Barcelona, Azurix, SAUR. Case ID: ICSID Case No. Azurix robustly defines the doctrine to be not merely the negative obligation on host governments to refrain from bad faith, but the positive obligation to facilitate the success of the foreign investor. The date of the last update is displayed on the Navigator’s home page. Azurix Corporation v Argentina, Award, ICSID Case No ARB/01/12, IIC 24 (2006), 23rd June 2006, despatched 14th July 2006, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID] Date: 23 June 2006 Despatched: 14 July 2006 Citation(s): ICSID Case No ARB/01/12 (Official Case No) IIC 24 (2006) (OUP reference) Content type: Arbitral awards Product: … Summary of the dispute Claims arising out of Argentina's alleged interference with the tariff regime applicable to claimant's investment, as well as other alleged breaches of obligations under a water concession agreement. Proceedings may also be conducted without being administered by any institution. The Navigator is updated on a regular, typically biannual, basis. Claimant(s): Azurix … If you are not a subscriber, you can contact us for a rate quote at subscribe@iareporter.com. Amounts claimed and awarded These are decisions rendered by an arbitral tribunal. Azurix v. Argentina (1) Guided Tutorial. AZURIX v. ARGENTINE REPUBLIC and in this sense only provide for minimal protection of the alien. Award. BUENOS AIRES -(Dow Jones)- Former Enron Corp. (ENE) water unit Azurix Corp. has been awarded $165 million against Argentina in the latest ruling on dozens of international arbitration claims brought against the country by foreign companies. : Biloune and Marine Drive Komplex Ltd. v. Ghnna Investments Ceetre and the Government of China, (Investment Agreement), Award on Jurisdiction and Liability, 27 October 1989, 95 Ir 184, p. 209; Compania del … To access a full list of documentation available with respect to a case, users are invited to use (i) the link to the case page on http://italaw.com, and/or (ii) links to the websites of governments and/or arbitral institutions provided in the “Additional information” section. Wessex Water Services Limited was purchased by American company Enron in 1998 for $2.4 billion and placed in a newly formed subsidiary, Azurix. ARB/01/12) Decision on Provisional Measures requested by the Claimant (English & Spanish) August 6, 2002 Rejected (see Decision on Jurisdiction) SGS Société Générale de Surveillance S.A. v. Islamic Republic of Pakistan (ICSID Case No. Alternatively, you can sign up to receive free email headlines here. • Discontinued: the arbitration was discontinued for any reason other than due to a (known) settlement. For further information, please contact us via the online contact form. A key point of reference for policymakers in formulating investment policies and negotiating investment agreements. Composition of tribunal The committee rejected the application in its entirety. In a letter dated October 4, 2007, Azurix expressed their concern that Dr. Guglielmino’s letter did not in fact provide additional comfort or security to Azurix, given Argentina’s prior actions, and particularly in light of their recent public announcements that Argentina would not acknowledge the final and binding nature of the Decision on Annulment in CMS v. • Decided in favour of State: the tribunal dismissed the case for lack of jurisdiction or found that the respondent State has not committed any breach of the applicable IIA. Case Details. I. Year of Filing: 2003. Decision on Jurisdiction. • The Navigator only records treaty-based disputes or treaty-based aspects of "mixed" disputes. Azurix Corp. v. Argentine Republic (ICSID Case No. By Elizabeth Whitsitt 2 October 2009 . Azurix claims that Argentina has violated obligations owed to Azurix under the 1991 Treaty Concerning the Reciprocal Encouragement and Protection of Investment between the Argentine Republic and the United States of America (hereinafter “the BIT”), international law and Argentine law in respect of Azurix's investment in a utility which distributes drinking water and treats and disposes of sewerage water in … The decision is available here and nice summaries of the decision can be found here, here, and here. "'1 3 On July 31, 2001, the Free Trade Commission clarified the scope of NAFTA's article 1105 fair and … Initiation of a follow-on proceeding by either disputing party does not affect the field “Case Status/Outcome” of the original proceeding, until the follow-on proceeding is completed. See discussion and analysis … • Decided in favour of investor: the tribunal found that the respondent State committed one or more breaches of the applicable IIA and awarded monetary compensation or non-pecuniary relief to the claimant investor. The entry point for all country specific investment policy data. is added to the name of each subsequent case. AAS is registered in Argentina and is 0.1% owned by Azurix and 99.9% owned by Azurix Argentina Holdings Inc. (a company incorporated in Delaware), which in turn is 100% owned by Azurix. Arbitral rules 2006 (hereinafter: Azurix v. Argentina). Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources. It requires policymakers, negotiators, civil society and other stakeholders to be well informed about foreign direct investment, international investment agreements (IIAs) and their impact on sustainable development. International investment rulemaking is taking place at the bilateral, regional, interregional and multilateral levels. During a 1999 water privatization deal, the company won a 30-year concession to provide water and sewage … not as “Pending”). While every effort is made to keep the information up to date and complete, the material is provided without any guarantees or warranties as to its accuracy or completeness. Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration. This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings. ARB/01/12, Award, 14 Jul. ARB/01/12) - Volume 47 Issue 3 as a result of resignation, disqualification or passing away), the names of both the previous and subsequent arbitrator are recorded. • an international arbitration between an investor and a State; })(window,document,'script','//www.google-analytics.com/analytics.js','ga'); Azurix v. Argentina represents the first case in which and international arbitral tribunal decided on the merit of a disputed water privatization. The structure of economic activities follows the International Standard Industrial Classification of All Economic Activities, Rev.4 (UN ISIC Rev.4). 360 (citing the Oxford English Dictionary). Included are those decisions that concern the substance of the case and affect the final outcome. ARB/97/3 (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this website on October 18, 2018. An objective evaluation of a country’s legal, regulatory and institutional framework to attract direct investments. We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. Executive Summary CMS, a US corporation, owned a 30% share of TGN, an Argentinean gas transportation company. This section provides links to sources of information used for gathering data for the case at hand or otherwise relevant to that case. Cases as well as suggestions to improve the Navigator can not be deemed.! International Centre for the settlement of investment treaties and model agreements not publicly available sources about known! Order No other publicly available, information about breaches found may be obtained from other available. A ( known ) settlement, an Argentinean gas transportation company is marked according to the is... Main and preferred source of information for Standardization ( ISO ) 4217 code list contains! 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