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Investment Dispute Settlement Navigator

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methodology

About

The UNCTAD Investment Dispute Settlement Navigator contains information about known international arbitration cases initiated by investors against States pursuant to international investment agreements (IIAs). Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases.

General disclaimer

The Navigator includes information about publicly known IIA-based international investor-State arbitration proceedings. As some proceedings (or certain aspects of proceedings) remain confidential, the information contained in the Navigator cannot be deemed exhaustive.

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. UNCTAD assumes no responsibility for eventual errors or omissions in these data.

We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. Please contact us using the online contact form.

Cases included in the Navigator

A case is included in the Navigator if it is:

  • an international arbitration between an investor and a State;
  • fully or partially based on an IIA, such as a bilateral investment treaty or the investment chapter of a free trade agreement (not included are investor-State disputes that are solely based on contracts or on domestic investment legislation);
  • submitted to arbitration through a notice of arbitration or a request for arbitration, and upon registration of such request if applicable (not included are cases where a disputing party has only notified the other party of the existence of a dispute or signalled its intention to submit a claim, but has not yet commenced the arbitration).

Sources of information and frequency of updating

The information included in the Navigator is collected from publicly available sources. Primary sources (i.e. official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. Secondary sources, such as specialized reporting services and other sources deemed reliable, are used to supplement primary sources and/or obtain case information otherwise unavailable.

The Navigator is updated on a regular, typically biannual, basis. The date of the last update is displayed on the Navigator’s home page.

Methodological notes for the recording of data

Case name

Full case name is recorded as it appears in the official case documents and as it is registered at the administering institution if applicable. If there are more than five claimants in the case, the names of all claimants can be replaced by the name of the first claimant followed by the words “and others”.

Short case name is ascribed by UNCTAD. Typically it is the first word of a corporate claimant’s name, an abbreviation of the corporate claimant’s name, or the last name of a natural-person claimant “v.” the short version of the respondent State’s name.

If the Navigator includes more than one case with the exact same name, then “(I)” is added to the case name of the earlier case, and a “(II)”, “(III)”, etc. is added to the name of each subsequent case.

Year of initiation

This is the year in which the notice of arbitration / request for arbitration was submitted by the claimant. For arbitrations brought under the ICSID Convention Arbitration Rules or ICSID Additional Facilities (AF) Rules, the year in which the claim was registered by ICSID is used.

Applicable IIA

This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings.

Arbitral rules

These are the arbitral rules in accordance with which the proceedings are conducted. Proceedings that are not subject to any existing set of arbitral rules, i.e. where the arbitral tribunal determines procedural rules, are marked “None (ad hoc)”.

Administering institution

This is the institution that provides administrative support for the arbitral proceedings. When the proceedings are subject to arbitral rules of a certain arbitral institution (e.g. SCC or ICC), the relevant institution administers that case. In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. UNCITRAL Arbitration Rules), the parties may request any arbitral institution to administer their case (e.g. PCA). Proceedings may also be conducted without being administered by any institution.

Common abbreviations for administering institutions:

CRCICACairo Regional Centre for International Commercial Arbitration
ICCInternational Chamber of Commerce (International Court of Arbitration)
ICSIDInternational Centre for Settlement of Investment Disputes
LCIALondon Court of International Arbitration
MCCIMoscow Chamber of Commerce and Industry
PCAPermanent Court of Arbitration
SCCStockholm Chamber of Commerce (Arbitration Institute)

Details of investment and summary of the dispute

The details of investment are presented as argued by the claimant, unless otherwise expressly identified by an arbitral tribunal in its decisions or awards.

The summary of the dispute describes in very general terms the conduct allegedly in breach of IIA obligations as argued by the claimant.

Economic sector and subsector

This refers to the economic sector to which the investment at issue allegedly belongs. The structure of economic activities follows the International Standard Industrial Classification of All Economic Activities, Rev.4 (UN ISIC Rev.4).

Status/Outcome of original proceedings

This refers to the current status of the original arbitration proceedings.

  • 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.
  • 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.
  • Decided in favour of neither party (liability found but no damages awarded): the arbitral tribunal found that the respondent State committed one or more breaches of the applicable IIA but did not award monetary compensation or non-pecuniary relief to the claimant investor.
  • Settled: the disputing parties settled the case and the arbitral proceedings were discontinued for that reason.
  • Pending: the arbitration proceedings are pending. A case remains pending if any of the following elements remain to be decided: jurisdiction, liability (merits), compensation. The case remains pending, for instance, if a State is found to have breached one or more IIA obligations (liability) but no award on damages has been issued yet.
    Notes:
    • The Navigator only records treaty-based disputes or treaty-based aspects of "mixed" disputes. In treaty-based cases that are simultaneously contract-based or based on national investment law ("mixed" disputes), a case is deemed concluded (for purposes of the Navigator) if the tribunal dismissed the case on jurisdiction or finds no breach of the IIA, even if it proceeds to adjudicate the contract- or statutory-based claims.
    • Cases in which a final award has been rendered but which are later subject to follow-on (post-award) proceedings (e.g. ICSID annulment proceedings or domestic judicial review), are marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).
  • Discontinued: the arbitration was discontinued for any reason other than due to a (known) settlement. This includes discontinuance as a result of non-payment of arbitration fees, in order to pursue litigation in another forum, or for any other reason (including for unknown reasons).

Arbitral decisions rendered

These are decisions rendered by an arbitral tribunal. Included are those decisions that concern the substance of the case and affect the final outcome. In particular, these include decisions (awards) on jurisdictional issues, liability (merits) and damages, including arbitrators’ individual opinions where these were issued. Discontinuance orders and settlement agreements are also recorded if such information is available.

Not included are any other (supplementary) arbitral decisions, e.g. concerning provisional measures or decisions regarding requests for disqualification of arbitrators. Similarly, procedural orders issued by arbitral tribunals are not included. 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.

Amounts claimed and awarded

Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration.

Amount awarded refers to the amount of monetary compensation awarded by the arbitral tribunal to the claimant, not including interest, legal costs or costs of arbitration.

For proceedings that end in a settlement, the amount of compensation that the State agreed to pay to the claimant under the terms of settlement (if known) is recorded in this section.

Amounts are recorded in the currency used by the claimant/tribunal. The list of currencies in the Navigator follows the International Organization for Standardization (ISO) 4217 code list.

To enable comparisons between cases, all amounts are also converted to US dollars. For the purposes of such conversion, the OANDA Historical Currency Converter is being used; the date of conversion is the date of the document or other source from which the information was obtained (e.g. the date in which the request for arbitration containing this amount was submitted or the date of the final award).

Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. Otherwise, it is derived from other publicly available sources that are deemed reliable. In some cases, the approximate amount may be recorded to give a broad indication of the dispute’s magnitude. As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided.

If the claimant provides more than one valuation of damages claimed, the highest of these amounts is recorded.

IIA breaches alleged and found

Information about breaches alleged is primarily derived from the claimant’s request of arbitration, claimant’s memorials and/or arbitral decisions. When the relevant case documentation is not publicly available, information about breaches alleged may be obtained from other public sources that are deemed reliable.

Information about breaches found is primarily derived from the arbitral decisions. When the relevant decision is not publicly available, information about breaches found may be obtained from other public sources that are deemed reliable.

Claims concerning expropriation are classified as “direct” or “indirect” according to the characterisation made by the claimant and/or the tribunal. Whenever a claimant or the tribunal refer to “expropriation”, without distinguishing between “direct” or “indirect”, such distinction is made on the basis of the factual background of the case and the context of the claimant’s claims and tribunal’s findings.

Composition of tribunal

These are individuals who serve as members of the arbitral tribunal adjudicating the dispute (arbitrators).

The disputing party (i.e. claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. Instances where the respondent failed to appoint an arbitrator, and the latter was appointed by an “appointing authority”, are not recorded separately (i.e. both types of appointment are recorded under “Appointed by / designated to Respondent” without further distinction).

In case an arbitrator has been replaced by another individual (e.g. as a result of resignation, disqualification or passing away), the names of both the previous and subsequent arbitrator are recorded.

Follow-on (post-award) proceedings

Follow-on (post-award) proceedings include three types of legal proceedings:

  • ICSID annulment proceedings;
  • Judicial review by national courts (set-aside proceedings); and
  • ICSID resubmission proceedings.

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. For example, in a case where a final award has been rendered but it is later subject to a follow-on proceeding (e.g. ICSID annulment proceeding), the status of the case is marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).

Decisions, judgments and/or awards rendered in the course of follow-on (post-award) proceedings, as well as any individual opinions appended to them, are recorded.

The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded.

Link to Italaw’s case page

The Italaw.com portal offers a wide collection of case documentation for many investor-State disputes. It makes available not only the main arbitral decisions, but also procedural orders, parties’ submissions, expert opinions and other types of documents.

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.

Additional information

This section provides links to sources of information used for gathering data for the case at hand or otherwise relevant to that case. These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources.

Number of cases as respondent State
1 59

Argentina - as respondent State

Clear selection
Loaded 59 out of 59 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2015 Abertis v. Argentina Abertis Infraestructuras, S.A. v. Argentine Republic (ICSID Case No. ARB/15/48) Argentina - Spain BIT (1991) ICSID ICSID Investment: Shareholdings in companies that hold toll highway concessions.

Summary:
Shareholdings in companies that hold toll highway concessions. Pending Argentina Spain Tertiary: F - Construction 42 - Civil engineering Oreamuno Blanco, R. - President

Debevoise, E. W. - Claimant

Valencia-Ospina, E. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
2 2015 ICS v. Argentina (II) ICS Inspection and Control Services Limited v. The Argentine Republic (II) Argentina - United Kingdom BIT (1990) UNCITRAL Data not available Investment: Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy.

Summary: Claims arising out of Argentina's alleged non-payment of invoices to the investor under a contract in which ICS was to provide auditing services in relation to a government-sponsored scheme to inspect imports bound for the country before they were shipped.
Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy. Pending Argentina United Kingdom Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Sekolec, J. - President

Tschanz, P.-Y. - Claimant

Bello Janeiro, D. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
3 2015 Salini Impregilo v. Argentina Salini Impregilo S.p.A. v. Argentine Republic (ICSID Case No. ARB/15/39) Argentina - Italy BIT (1990) ICSID ICSID Investment: Highway system construction contract.

Summary:
Highway system construction contract. Pending Argentina Italy Tertiary: F - Construction 42 - Civil engineering Hobér, K. - Claimant

Crawford, J. R. - President

Kurtz, J. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2014 Casinos Austria v. Argentina Casinos Austria International GmbH and Casinos Austria Aktiengesellschaft v. Argentine Republic (ICSID Case No. ARB/14/32) Argentina - Austria BIT (1992) ICSID ICSID Investment: Rights under a gambling license granted by the Government of Salta province in Argentina to claimant's local subsidiary, Entretenimientos y Juegos de Azar S.A. (ENJASA).

Summary: Claims arising out of the revocation by an Argentinean province of a license to operate games of chance and lottery held by claimant's local subsidiary under alleged concerns of money laundering.
Rights under a gambling license granted by the Government of Salta province in Argentina to claimant's local subsidiary, Entretenimientos y Juegos de Azar S.A. (ENJASA). Pending Argentina Austria Tertiary: R - Arts, entertainment and recreation 92 - Gambling and betting activities van Houtte, H. - President

Schill, S. - Claimant

Torres Bernárdez, S. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
5 2012 Repsol v. Argentina Repsol, S.A. and Repsol Butano, S.A. v. Argentine Republic (ICSID Case No. ARB/12/38) Argentina - Spain BIT (1991) ICSID ICSID Investment: Majority shareholding in the Argentinean oil company YPF.

Summary: Claims arising out of the issuance of Law no. 660/2012 and decree 660/2010 that expropriated Repsol's 51 per cent shareholding in an Argentinean oil company.
Majority shareholding in the Argentinean oil company YPF. Settled Argentina Spain Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas von Wobeser, C. - President

Orrego Vicuña, F. - Claimant

Stern, B. - Respondent
10500.00 mln USD 5000.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Settlement Agreement dated 20 March 2014

Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 19 May 2014, pursuant to ICSID Arbitration Rule 44
None None None None None None
6 2009 ICS v. Argentina (I) ICS Inspection and Control Services Limited v. The Argentine Republic (I) (PCA Case No. 2010-9) Argentina - United Kingdom BIT (1990) UNCITRAL PCA Investment: Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy.

Summary: Claims arising out of Argentina's alleged non-payment of invoices to the investor under a contract in which ICS was to provide auditing services in relation to a government-sponsored scheme to inspect imports bound for the country before they were shipped.
Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy. Decided in favour of State Argentina United Kingdom Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Dupuy, P.-M. - President

Lalonde, M. - Claimant

Torres Bernárdez, S. - Respondent
25.00 mln USD Data not available Umbrella clause None - jurisdiction declined Award on Jurisdiction dated 10 February 2012 None None None None None None
7 2009 Teinver v. Argentina Teinver S.A., Transportes de Cercanías S.A. and Autobuses Urbanos del Sur S.A. v. Argentine Republic (ICSID Case No. ARB/09/1) Argentina - Spain BIT (1991) ICSID ICSID Investment: Indirect shareholding in two Argentinean airlines.

Summary: Claims arising out of the Government's alleged re-nationalization and taking of other measures regarding claimants' investments in two Argentine airlines, Aerolíneas Argentinas S.A. and Austral-Cielos del Sur S.A., and subsequent disagreements between the parties as to the remedy due to claimants for the expropriation of their shares in those airlines.
Indirect shareholding in two Argentinean airlines. Pending Argentina Spain Tertiary: H - Transportation and storage 51 - Air transport Buergenthal, T. - President

Álvarez, H. C. - Claimant

Hossain, K. - Respondent
1500.00 mln USD Data not available Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Pending Decision on Jurisdiction dated 21 December 2012 Separate Opinion of Dr. Kamal Hossain (Decision on Jurisdiction) None None None None None
8 2008 Ambiente Ufficio and others v. Argentina Ambiente Ufficio S.p.A. and others (formerly Giordano Alpi and others) v. Argentine Republic (ICSID Case No. ARB/08/9) Argentina - Italy BIT (1990) ICSID ICSID Investment: Ownership of sovereign bonds issued by Argentina held by over 90 claimants.

Summary: Claims arising out of Argentina's enactment of legislation concerning the restructuring of its public debt, leading to the Government's default in sovereign bonds in late 2001, and circumstances surrounding its 2005 settlement with foreign holders of its defaulted bonds.
Ownership of sovereign bonds issued by Argentina held by over 90 claimants. Discontinued Argentina Italy Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Simma, B. - President

Böckstiegel, K.-H. - Claimant

Torres Bernárdez, S. - Respondent
6.80 mln EUR (10.70 mln USD) Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction and Admissibility dated 8 February 2013

Order of discontinuance of the proceeding dated 28 May 2015
Dissenting Opinion of Santiago Torres Bernárdez (Decision on Jurisdiction and Admissibility)

Individual Statement
None None None None None
9 2008 Impregilo v. Argentina (II) Impregilo S.p.a v. Argentine Republic (II) (ICSID Case No. ARB/08/14) Argentina - Italy BIT (1990) ICSID ICSID Investment: Rights under a highway construction concession agreement held by Impregilo's local subsidiary Camino de las Sierras.

Summary: Claims arising out of Argentina's enactment of a 'pesification' law, the freeze on toll rates, among other measures adopted during its 2001-2002 economic crisis, allegedly affecting claimant's investment in a highway construction project to build and manage roads to the city of Córdoba.
Rights under a highway construction concession agreement held by Impregilo's local subsidiary Camino de las Sierras. Settled Argentina Italy Tertiary: F - Construction 42 - Civil engineering Danelius, H. - President

Brower, C. N. - Claimant

Hossain, K. - Respondent
250.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order for the discontinuance of the proceeding issued by the Tribunal dated 27 October 2010, pursuant to ICSID Arbitration Rule 43(1) None None None None None None
10 2007 Abaclat and others v. Argentina Abaclat and others (formerly Giovanna A. Beccara and others) v. Argentine Republic (ICSID Case No. ARB/07/5) Argentina - Italy BIT (1990) ICSID ICSID Investment: Ownership of sovereign bonds issued by Argentina held by over 60,000 claimants.

Summary: Claims arising out of Argentina's enactment of legislation concerning the restructuring of its public debt, leading to the Government's default in sovereign bonds in late 2001, and circumstances surrounding its 2005 settlement with foreign holders of its defaulted bonds.
Ownership of sovereign bonds issued by Argentina held by over 60,000 claimants. Settled Argentina Italy Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Tercier, P. - President

Briner, R. - President (replaced)

van den Berg, A. J. - Claimant

Torres Bernárdez, S. - Respondent

Abi-Saab, G. - Respondent (replaced)
3000.00 mln USD 1350.00 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction and Admissibility dated 4 August 2011

Consent Award under ICSID Arbitration Rule 43(2) dated 29 December 2016

Settlement agreement dated 21 April 2016
Dissenting Opinion of Professor Georges Abi-Saab (Decision on Jurisdiction and Admissibility)

Declaration appended to the Award by Santiago Torres Bernárdez

Additional Declaration by Pierre Tercier and Albert Jan van den Berg

Additional Declaration by Santiago Torres Bernárdez
None None None None None
11 2007 Alemanni and others v. Argentina Giovanni Alemanni and others v. Argentine Republic (ICSID Case No. ARB/07/8) Argentina - Italy BIT (1990) ICSID ICSID Investment: Ownership of sovereign bonds issued by Argentina held by over 180 initial claimants.

Summary: Claims arising out of Argentina's enactment of legislation concerning the restructuring of its public debt, leading to the Government's default in sovereign bonds in late 2001, and circumstances surrounding its 2005 settlement with foreign holders of its defaulted bonds.
Ownership of sovereign bonds issued by Argentina held by over 180 initial claimants. Discontinued Argentina Italy Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Berman, F. - President

Böckstiegel, K.-H. - Claimant

Thomas, J. C. - Respondent
14.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction and Admissibility dated 17 November 2014

Order of the Tribunal Discontinuing the Proceeding dated 14 December 2015
Concurring Opinion of Mr. J. Christopher Thomas, QC (Decision on Jurisdiction and Admissibility) None None None None None
12 2007 HOCHTIEF v. Argentina HOCHTIEF Aktiengesellschaft v. Argentine Republic (ICSID Case No. ARB/07/31) Argentina - Germany BIT (1991) ICSID ICSID Investment: Minority shareholding in an Argentinean vehicle company, incorporated by the claimant and other members to a consortium that had a 25-year highway system construction concession.

Summary: Claims arising out of Argentina's enactment of a 'pesification' law, among other measures during its 2001-2002 economic crisis, allegedly affecting the investor's interests in a consortium responsible for the construction, maintenance and operation of a toll road and several bridges between the cities of Rosario and Victoria over the Paraná river in northern Argentina.
Minority shareholding in an Argentinean vehicle company, incorporated by the claimant and other members to a consortium that had a 25-year highway system construction concession. Decided in favour of investor Argentina Germany Tertiary: F - Construction 42 - Civil engineering Lowe, V. - President

Brower, C. N. - Claimant

Thomas, J. C. - Respondent
157.20 mln USD 13.40 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 24 October 2011

Decision on Liability dated 29 December 2014

Award dated 21 December 2016
Separate and Dissenting Opinion of J. Christopher Thomas, Q.C. (Decision on Jurisdiction) None None None None None
13 2007 Impregilo v. Argentina (I) Impregilo S.p.A. v. Argentine Republic (I) (ICSID Case No. ARB/07/17) Argentina - Italy BIT (1990) ICSID ICSID Investment: Controlling interest in an Argentinean company that had a concession agreement for water distribution and sewerage treatment services.

Summary: Claims arising out of Argentina's alleged interference with the tariff regime applicable to claimant's investment and other alleged breaches of obligations under the relevant concession agreement through the enactment of emergency measures during its 2001-2002 economic crisis.
Controlling interest in an Argentinean company that had a concession agreement for water distribution and sewerage treatment services. Decided in favour of investor Argentina Italy Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Danelius, H. - President

Brower, C. N. - Claimant

Stern, B. - Respondent
119.00 mln USD 21.29 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 21 June 2011 Concurring and Dissenting Opinion of Professor Brigitte Stern (Award)

Concurring and Dissenting Opinion of Judge Charles N. Brower (Award)
ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision of the ad hoc Committee on the Application for Annulment dated 24 January 2014 (ICSID annulment proceedings) None Oreamuno Blanco, R. - President

Zuleta, E. - Member

Cheng, T. - Member
14 2007 Urbaser and CABB v. Argentina Urbaser S.A. and Consorcio de Aguas Bilbao Biskaia, Bilbao Biskaia Ur Partzuergoa v. Argentine Republic (ICSID Case No. ARB/07/26) Argentina - Spain BIT (1991) ICSID ICSID Investment: Direct and indirect minority shareholding in an Argentinean vehicle company that held a concession for the provision of a drinking water supply and sewerage services in Buenos Aires.

Summary: Claims arising out of Argentina's alleged interference with the tariff regime applicable to claimant's investment and other alleged breaches of obligations under the relevant concession agreement through the enactment of emergency measures during its 2001-2002 economic crisis.
Direct and indirect minority shareholding in an Argentinean vehicle company that held a concession for the provision of a drinking water supply and sewerage services in Buenos Aires. Decided in favour of neither party (liability found but no damages awarded) Argentina Spain Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Bucher, A. - President

Martínez-Fraga, P. J. - Claimant

McLachlan, C. A. - Respondent

Brownlie, I. - Respondent (replaced)
211.20 mln USD 0.00 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 19 December 2012

Award dated 8 December 2016
None None None None None None
15 2005 Asset Recovery v. Argentina Asset Recovery Trust S.A. v. Argentine Republic (ICSID Case No. ARB/05/11) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Rights under a contract concluded between the claimant and the Province of Mendoza for the collection of debts.

Summary: Claims arising out of the adoption of measures by a local government that allegedly wiped out debt and extended payment deadlines under a contract to which the claimant was a party concerning the recovery of debts owned by public banks in the Mendoza province.
Rights under a contract concluded between the claimant and the Province of Mendoza for the collection of debts. Discontinued Argentina United States of America Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Irarrázabal, J. - President

Canales Santos, E. - Claimant

Cançado Trindade, A. A. - Respondent
20.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order for the discontinuance of the proceeding for lack of payment of the required advances issued by the tribunal dated 27 November 2012, pursuant to ICSID Administrative and Financial Regulation 14(3)(d) None None None None None None
16 2005 CGE v. Argentina Compañía General de Electricidad S.A. and CGE Argentina S.A. v. Argentine Republic (ICSID Case No. ARB/05/2) Argentina - Chile BIT (1991) ICSID ICSID Investment: Rights under concession agreements for electricity distribution services.

Summary: Claims arising out of laws enacted and measures taken by Argentina and the provincial governments of San Juan, Tucuman and Jujuy -determining the pesification of rates that were denominated in dollars until 2001- that allegedly affected claimants' investments in several companies engaged in providing electricity distribution services to these Argentine provinces.
Rights under concession agreements for electricity distribution services. Settled Argentina Chile Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tercier, P. - President

Álvarez, H. C. - Claimant

Abi-Saab, G. - Respondent
125.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Tribunal dated 28 July 2009, pursuant to ICSID Arbitration Rule 44 None None None None None None
17 2005 Daimler v. Argentina Daimler Financial Services AG v. Argentine Republic (ICSID Case No. ARB/05/1) Argentina - Germany BIT (1991) ICSID ICSID Investment: Majority and controlling interest in local company engaged in extending loans and leases to Argentinean dealers and purchasers of automotive goods; additional capital contributions to the subsidiary company.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the respondent to stem the country's economic crisis of 2001-2002 which allegedly affected the claimant's investment.
Majority and controlling interest in local company engaged in extending loans and leases to Argentinean dealers and purchasers of automotive goods; additional capital contributions to the subsidiary company. Decided in favour of State Argentina Germany Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Dupuy, P.-M. - President

Brower, C. N. - Claimant

Bello Janeiro, D. - Respondent
272.70 mln EUR (243.00 mln USD) Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Most-favoured nation treatment

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 22 August 2012 Dissenting Opinion of Judge Charles N. Brower (Award)

Opinion of Professor Domingo Bello Janeiro (Award)
ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on annulment dated 7 January 2015 (ICSID annulment proceedings) None Zuleta, E. - President

Feliciano, F. P. - Member

Khan, M. A. - Member
18 2005 Scotiabank v. Argentina Bank of Nova Scotia v. Argentine Republic Argentina - Canada BIT (1991) UNCITRAL None Investment: Ownership of local bank, Scotiabank Quilmes SA.

Summary: Claims arising out of the alleged negative effects of the forced pesification of the bank's local subsidiary US-dollar assets and liabilities, during the Argentinean economic crisis of 2002.
Ownership of local bank, Scotiabank Quilmes SA. Settled Argentina Canada Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Brower, C. N. - Claimant

Pellet, A. - Respondent

Name not available - President
600.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
19 2005 TSA Spectrum v. Argentina TSA Spectrum de Argentina S.A. v. Argentine Republic (ICSID Case No. ARB/05/5) Argentina - Netherlands BIT (1992) ICSID ICSID Investment: Ownership of local subsidiary that had concluded a contract with Argentina's telecommunications authority for the administration, management and control of the radio spectrum.

Summary: Claims arising out of the termination of the concession contract entered into with the claimant through a resolution deciding that the national's telecommunications authority would operate the installations and assets that were the object of the contract due to the investor's alleged illicit enrichment.
Ownership of local subsidiary that had concluded a contract with Argentina's telecommunications authority for the administration, management and control of the radio spectrum. Decided in favour of State Argentina Netherlands Tertiary: J - Information and communication 61 - Telecommunications Danelius, H. - President

Aldonas, G. D. - Claimant

Abi-Saab, G. - Respondent
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated19 December 2008 Dissenting Opinion of Arbitrator Grant D. Aldonas (Award)

Concurring Opinion of Arbitrator Georges Abi-Saab (Award)
None None None None None
20 2004 BP v. Argentina BP America Production Company and others v. Argentine Republic (ICSID Case No. ARB/04/8) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Indirect and direct ownership of equity interests in three local companies engaged in oil and gas production in Argentina, holders of a number of hydrocarbon (oil and gas) production concessions, exploration permits and production contracts.

Summary: Claims arising out of a series of measures taken in the hydrocarbons and electricity sector by the Government to stem the country's economic crisis of 2001-2002 which allegedly affected the claimants' investments, including the exemption of hydrocarbon exports from export dues, the limitation of royalty rates and the right to freely export hydrocarbons and to transfer funds abroad.
Indirect and direct ownership of equity interests in three local companies engaged in oil and gas production in Argentina, holders of a number of hydrocarbon (oil and gas) production concessions, exploration permits and production contracts. Settled Argentina United States of America Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Caflisch, L. - President

van den Berg, A. J. - Claimant

Stern, B. - Respondent
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Preliminary Objections dated 27 July 2006

Order taking note of the discontinuance issued by the Tribunal dated 20 August 2008, pursuant to Arbitration Rule 43(1)
None None None None None None
21 2004 CIT Group v. Argentina CIT Group Inc. v. Argentine Republic (ICSID Case No. ARB/04/9) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Portfolio investment held by local subsidiary that had entered into numerous commercial leasing agreements.

Summary: Claims arising out of the alleged negative impacts that the government's mandatory pesification, undertaken by Argentina in its 2001-2002 economic crisis, had upon hundreds of commercial leasing agreements concluded by claimant's subsidiary and third parties, dismantling the foreign exchange financing component of CIT's investment strategy.
Portfolio investment held by local subsidiary that had entered into numerous commercial leasing agreements. Settled Argentina United States of America Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Dupuy, P.-M. - President

von Wobeser, C. - Claimant

Tomuschat, C. - Respondent
124.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 2 April 2007

Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 12 May 2009, pursuant to ICSID Arbitration Rule 44
None None None None None None
22 2004 France Telecom v. Argentina France Telecom S.A. v. Argentine Republic (ICSID Case No. ARB/04/18) Argentina - France BIT (1991) ICSID ICSID Investment: Shareholding in local company that had a concession agreement for telecommunication services.

Summary: Claims arising out of the Government's modification of the tariff structure applicable to the claimant's investment, as part of a series of other measures undertaken by Argentina during its financial crisis.
Shareholding in local company that had a concession agreement for telecommunication services. Settled Argentina France Tertiary: J - Information and communication 61 - Telecommunications Tribunal not constituted 300.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Acting Secretary-General dated 29 March 2006, pursuant to ICSID Arbitration Rule 44 None None None None None None
23 2004 Mobil v. Argentina Mobil Exploration and Development Inc. Suc. Argentina and Mobil Argentina S.A. v. Argentine Republic (ICSID Case No. ARB/04/16) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Rights under gas production concessions in Argentina.

Summary: Claims arising out of measures taken by Argentina in response to its 2001-2002 economic crisis that allegedly affected the claimants' investment.
Rights under gas production concessions in Argentina. Data not available Argentina United States of America Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Moller, G. - President

Bernardini, P. - Claimant

Remiro Brotóns, A. - Respondent
200.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Data not available Decision on Jurisdiction and Liability dated 10 April 2013

Award dated 25 February 2016
Separate Opinion of Antonio Remiro Brotóns (Decision on Jurisdiction and Liability)

Dissenting Opinion of Antonio Remiro Brotóns
ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Hascher, D. - President

Mourre, A. - Member

van Houtte, H. - Member
24 2004 RGA v. Argentina RGA Reinsurance Company v. Argentine Republic (ICSID Case No. ARB/04/20) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Data not available

Summary: Claims arising out of a series of measures taken by the Government to stem the country's economic crisis of 2001-2002 which allegedly affected the claimants' investments in the retirement and pension administration market in Argentina.
Data not available Settled Argentina United States of America Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Nariman, F. S. - President

Bernardini, P. - Claimant

Abi-Saab, G. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Tribunal dated 14 September 2006, pursuant to Arbitration Rule 43(1) None None None None None None
25 2004 SAUR v. Argentina SAUR International v. Argentine Republic (ICSID Case No. ARB/04/4) Argentina - France BIT (1991) ICSID ICSID Investment: Indirect and minority shareholding in a formerly State-owned water and sewerage Argentinean company holding a concession agreement for related services.

Summary: Claims arising out of the alleged failure of the government of the Argentine province of Mendoza to implement service tariff increases under an agreement between Saur's subsidiary and the federal government, in the wake of the State's 2001-2002 economic crisis.
Indirect and minority shareholding in a formerly State-owned water and sewerage Argentinean company holding a concession agreement for related services. Decided in favour of investor Argentina France Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Fernández-Armesto, J. - President

Hanotiau, B. - Claimant

Tomuschat, C. - Respondent
143.90 mln USD 39.90 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Decision on Objections to Jurisdiction dated 27 February 2006

Decision on Jurisdiction and Liability dated 6 June 2012

Award dated 22 May 2014
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 19 December 2016 (ICSID annulment proceedings) None Zuleta, E. - President

Castellanos Howell, A. R. - Member

Yusuf, A. A. - Member
26 2004 Total v. Argentina Total S.A. v. Argentine Republic (ICSID Case No. ARB/04/1) Argentina - France BIT (1991) ICSID ICSID Investment: Majority and minority shareholding interests in companies operating in the gas transportation, exploration and production and power generation sectors, as well as various related licences, rights, concessions and loans.

Summary: Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment.
Majority and minority shareholding interests in companies operating in the gas transportation, exploration and production and power generation sectors, as well as various related licences, rights, concessions and loans. Decided in favour of investor Argentina France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Sacerdoti, G. - President

Álvarez, H. C. - Claimant

Herrera Marcano, L. - Respondent
940.00 mln USD 269.90 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Liability dated 27 December 2010

Decision on Objections to Jurisdiction dated 25 August 2006

Award dated 27 November 2013
Dissenting Opinion of Henri Álvarez (Decision on Liability)

Concurring Opinion of Luis Herrera Marcano (Decision on Liability)

Dissenting Opinion of Henri Álvarez

Dissenting Opinion of Luis Herrera Marcano
ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 1 February 2016 (ICSID annulment proceedings) None Zuleta, E. - President

Castellanos Howell, A. R. - Member

Cheng, T. - Member
27 2004 Wintershall v. Argentina Wintershall Aktiengesellschaft v. Argentine Republic (ICSID Case No. ARB/04/14) Argentina - Germany BIT (1991) ICSID ICSID Investment: Indirect controlling shareholding in a wholly-owned local subsidiary engaged in gas and oil production.

Summary: Claims arising out of the government's modification of its hydrocarbons regulatory framework that allegedly negatively affected the investor's subsidiary hydrocarbon-production concessions and exploration permits, through the enactment of a series of decrees and resolutions during the Argentinean economic crisis of 2001-2002.
Indirect controlling shareholding in a wholly-owned local subsidiary engaged in gas and oil production. Decided in favour of State Argentina Germany Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Nariman, F. S. - President

Bernardini, P. - Claimant

Torres Bernárdez, S. - Respondent
300.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 8 December 2008 None None None None None None
28 2003 Aguas Cordobesas v. Argentina Aguas Cordobesas, S.A., Suez, and Sociedad General de Aguas de Barcelona, S.A. v. Argentine Republic (ICSID Case No. ARB/03/18) Argentina - Spain BIT (1991)

Argentina - France BIT (1991)
ICSID ICSID Investment: Shareholding in company that had been awarded a water services concession for the city of Córdoba.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the respondent to stem the country's economic crisis of 2001-2002 which allegedly affected the claimants' investments.
Shareholding in company that had been awarded a water services concession for the city of Córdoba. Settled Argentina Spain Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Salacuse, J. W. - President

Kaufmann-Kohler, G. - Claimant

Nikken, P. - Respondent
112.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
29 2003 AWG v. Argentina AWG Group Ltd. v. The Argentine Republic Argentina - United Kingdom BIT (1990) UNCITRAL ICSID Investment: Shareholding in local company that had a concession for water distribution and waste water treatment services in the city of Buenos Aires and some surrounding municipalities.

Summary: Claims arising out of a series of alleged acts and omissions by Argentina, including its alleged failure or refusal to apply previously agreed adjustments to the tariff calculation and adjustment mechanisms affecting claimants' investment.
Shareholding in local company that had a concession for water distribution and waste water treatment services in the city of Buenos Aires and some surrounding municipalities. Decided in favour of investor Argentina United Kingdom Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Salacuse, J. W. - President

Kaufmann-Kohler, G. - Claimant

Nikken, P. - Respondent
34.10 mln USD 21.00 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Liability dated 30 July 2010

Decision on Jurisdiction dated 3 August 2006

Award dated 9 April 2015
Separate Opinion of Arbitrator Pedro Nikken (Decision on Liability) Judicial review by national courts Award/decision upheld (Judicial review by national courts) Memorandum Opinion (on Argentina's application to vacate award), U.S. District Court for the District of Columbia dated 30 September 2016 (Judicial review by national courts) None None
30 2003 Azurix v. Argentina (II) Azurix Corp. v. Argentine Republic (II) (ICSID Case No. ARB/03/30) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Indirect controlling interest in local subsidiary company holder of a concession agreement for water distribution and sewerage treatment services.

Summary: 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 the relevant concession agreement.
Indirect controlling interest in local subsidiary company holder of a concession agreement for water distribution and sewerage treatment services. Discontinued Argentina United States of America Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Moller, G. - President

Hanotiau, B. - Claimant

McRae, D. M. - Respondent

Cançado Trindade, A. A. - Respondent (replaced)
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Order for the discontinuance of the proceeding issued by the Tribunal dated 18 June 2012, pursuant to ICSID Administrative and Financial Regulation 14(3)(d) None None None None None None
31 2003 BG v. Argentina BG Group Plc v. The Republic of Argentina Argentina - United Kingdom BIT (1990) UNCITRAL None Investment: Direct and indirect ownership interests in a natural gas distribution company incorporated in Argentina.

Summary: Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment and frustrated the investor's ability to hedge against the risk of the devaluation of the pesos.
Direct and indirect ownership interests in a natural gas distribution company incorporated in Argentina. Decided in favour of investor Argentina United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Aguilar Álvarez, G. - President

van den Berg, A. J. - Claimant

Garro, A. M. - Respondent
238.10 mln USD 185.20 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Final Award dated 24 December 2007 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Memorandum Opinion (on review of Petition to Vacate or Modify Arbitration Award), U.S. District Court for the District of Columbia, dated 7 June 2010 (Judicial review by national courts)

Memorandum Opinion (on Cross-motion for recognition and enforcement of arbitral award), U.S. District Court for the District of Columbia, dated 21 January 2011 (Judicial review by national courts)

Opinion, United States Court of Appeals, dated 17 January 2012 (Judicial review by national courts)

Judgment of the Supreme Court of the United States dated 5 March 2014 (Judicial review by national courts)
None None
32 2003 Camuzzi v. Argentina (I) Camuzzi International S.A. v. Argentine Republic (I) (ICSID Case No. ARB/03/2) Argentina - BLEU (Belgium-Luxembourg Economic Union) BIT (1990) ICSID ICSID Investment: Indirect shareholding in two natural gas distribution companies, each holding a license granted by Argentina to supply and distribute natural gas in seven provinces of that country.

Summary: Claims arising out of the suspension of the licensee companies' tariff increases based on the US producer price index and the subsequent pesification of these tariffs pursuant to measures taken by the Government to stem the Argentinean economic crisis in 2001-2002.
Indirect shareholding in two natural gas distribution companies, each holding a license granted by Argentina to supply and distribute natural gas in seven provinces of that country. Pending Argentina Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Orrego Vicuña, F. - President

Lalonde, M. - Claimant

Morelli Rico, S. - Respondent
Data not available Data not available Unclear Pending Decision on Jurisdiction dated 11 May 2005 None None None None None None
33 2003 Camuzzi v. Argentina (II) Camuzzi International S.A. v. Argentine Republic (II) (ICSID Case No. ARB/03/7) Argentina - BLEU (Belgium-Luxembourg Economic Union) BIT (1990) ICSID ICSID Investment: Indirect shareholding in three local enterprises engaged in the distribution and transport of electric energy in Argentina.

Summary: Claims arising out of the suspension of the licensee companies' tariff increases based on the US producer price index and the subsequent pesification of these tariffs pursuant to measures taken by the Government to stem the Argentinean economic crisis in 2001-2002.
Indirect shareholding in three local enterprises engaged in the distribution and transport of electric energy in Argentina. Settled Argentina Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Gómez-Pinzón, E. - President

Álvarez, H. C. - Claimant

Gros Espiell, H. - Respondent
215.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 10 June 2005

Order taking note of the discontinuance issued by the Tribunal dated 25 January 2007, pursuant to Arbitration Rule 43(1)
None None None None None None
34 2003 Continental Casualty v. Argentina Continental Casualty Company v. Argentine Republic (ICSID Case No. ARB/03/9) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Ownership of insurance company incorporated in Argentina maintaining a portfolio of investment securities.

Summary: Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment and frustrated the investor's ability to hedge against the risk of the devaluation of the pesos.
Ownership of insurance company incorporated in Argentina maintaining a portfolio of investment securities. Decided in favour of investor Argentina United States of America Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Sacerdoti, G. - President

Veeder, V. V. - Claimant

Lauterpacht, E. - Claimant (replaced)

Nader, M. - Respondent
114.00 mln USD 2.80 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Transfer of funds
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 22 February 2006

Award dated 5 September 2008
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Argentina’s Application for a Stay of Enforcement of the Award dated 23 October 2009 (ICSID annulment proceedings)

Decision on the Claimant’s Preliminary Objection to Argentina’s Application for Annulment dated 23 October 2009 (ICSID annulment proceedings)

Decision on the Application for Partial Annulment, and the Application for Partial Annulment dated 16 September 2011 (ICSID annulment proceedings)
None Griffith, G. - President

Ajibola, B. - Member

Söderlund, C. - Member
35 2003 EDF and others v. Argentina EDF International S.A., SAUR International S.A. and León Participaciones Argentinas S.A. v. Argentine Republic (ICSID Case No. ARB/03/23) Argentina - France BIT (1991)

Argentina - BLEU (Belgium-Luxembourg Economic Union) BIT (1990)
ICSID ICSID Investment: Controlling interest in company that had a concession agreement relating to the transmission and distribution of electricity.

Summary: Claims arising out of a series of alleged acts and omissions by Argentina, including pre-emergency measures, emergency tariff measures, and certain renegotiation process that negatively affected the claimants' investment.
Controlling interest in company that had a concession agreement relating to the transmission and distribution of electricity. Decided in favour of investor Argentina France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Park, W. W. - President

Kaufmann-Kohler, G. - Claimant

De Trazegnies Granda, F. - Respondent (replaced)

Remón Peñalver, J. - Respondent
270.00 mln USD 136.00 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Decision on Jurisdiction dated 5 August 2008

Award dated 11 June 2012
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 5 February 2016 (ICSID annulment proceedings) None Greenwood, C. - President

Cheng, T. - Member

Taniguchi, Y. - Member
36 2003 El Paso v. Argentina El Paso Energy International Company v. Argentine Republic (ICSID Case No. ARB/03/15) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Indirect and non-controlling shareholding in four Argentine companies involved in the electricity and hydrocarbons industries.

Summary: Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment and frustrated the investor's ability to hedge against the risk of the devaluation of the pesos.
Indirect and non-controlling shareholding in four Argentine companies involved in the electricity and hydrocarbons industries. Decided in favour of investor Argentina United States of America Primary: B - Mining and quarrying

Tertiary: D - Electricity, gas, steam and air conditioning supply
6 - Extraction of crude petroleum and natural gas

35 - Electricity, gas, steam and air conditioning supply
Caflisch, L. - President

Bernardini, P. - Claimant

Stern, B. - Respondent
228.20 mln USD 43.00 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 27 April 2006

Award dated 31 October 2011
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision of the Ad Hoc Committee on the Application for Annulment of the Argentine Republic dated 22 September 2014 (ICSID annulment proceedings) None Oreamuno Blanco, R. - President

Cheng, T. - Member

Knieper, R. - Member
37 2003 Electricidad Argentina and EDF International v. Argentina Electricidad Argentina S.A. and EDF International S.A. v. Argentine Republic (ICSID Case No. ARB/03/22) Argentina - France BIT (1991) ICSID ICSID Investment:

Summary: Claims arising out of claimants' investment in an electricity distribution enterprise.
Pending Argentina France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Park, W. W. - President

Kaufmann-Kohler, G. - Claimant

De Trazegnies Granda, F. - Respondent
1200.00 mln USD Data not available Data not available Pending Data not available Data not available None None None None None
38 2003 Enersis v. Argentina Enersis, S.A. and others v. Argentine Republic (ICSID Case No. ARB/03/21) Argentina - Chile BIT (1991) ICSID ICSID Investment: Shareholding in two local companies holding a natural gas distribution concession.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the Government to stem the country's economic crisis of 2001-2002 which allegedly affected the claimants' investments.
Shareholding in two local companies holding a natural gas distribution concession. Pending Argentina Chile Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply MacLean, R. - President

Volterra, R. - Claimant

Herrera Marcano, L. - Respondent
1307.00 mln USD Data not available Data not available Pending Data not available Data not available None None None None None
39 2003 Gas Natural v. Argentina Gas Natural SDG, S.A. v. Argentine Republic (ICSID Case No. ARB/03/10) Argentina - Spain BIT (1991) ICSID ICSID Investment: Indirect shareholding in local corporation engaged in the production and distribution of natural gas for the northern parts of the Province of Buenos Aires.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the respondent to stem the country's economic crisis of 2001-2002 which allegedly affected the claimant's investments.
Indirect shareholding in local corporation engaged in the production and distribution of natural gas for the northern parts of the Province of Buenos Aires. Pending Argentina Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Lowenfeld, A. F. - President

Álvarez, H. C. - Claimant

Nikken, P. - Respondent
136.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Pending Decision of the Tribunal on Preliminary Questions on Jurisdiction dated 17 June 2005 None None None None None None
40 2003 Metalpar v. Argentina Metalpar S.A. and Buen Aire S.A. v. Argentine Republic (ICSID Case No. ARB/03/5) Argentina - Chile BIT (1991) ICSID ICSID Investment: Ownership of local subsidiary company holding rights and credits from loan agreements entered into with its customers.

Summary: Claims arising out of alleged adverse effects that a series of economic measures adopted by Argentine authorities in late 2001 and early 2002 had on the investments made by the claimants in a company manufacturing bus‑bodies for public transportation vehicles in Argentina.
Ownership of local subsidiary company holding rights and credits from loan agreements entered into with its customers. Decided in favour of State Argentina Chile Secondary: C - Manufacturing 29 - Manufacture of motor vehicles, trailers and semi-trailers Oreamuno Blanco, R. - President

Cameron, D. H. - Claimant

Chabaneix, J. P. - Respondent
18.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Decision on Jurisdiction dated 27 April 2006

Award on the Merits dated 6 June 2008
None None None None None None
41 2003 National Grid v. Argentina National Grid PLC v. The Argentine Republic Argentina - United Kingdom BIT (1990) UNCITRAL ICSID Investment: Ownership of shares, through a local investment vehicle company, of an enterprise that had a concession contract with the Argentine government for the operation of the high voltage electricity system, in addition to other associated contracts.

Summary: Claims arising out of the privatization program carried out by the Government of Argentina in the early 1990s, the guarantees offered to investors who brought assets in the electricity sector, and the measures taken by the Respondent to stem the Argentina economic crisis in 2001-2002.
Ownership of shares, through a local investment vehicle company, of an enterprise that had a concession contract with the Argentine government for the operation of the high voltage electricity system, in addition to other associated contracts. Decided in favour of investor Argentina United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Rigo Sureda, A. - President

Kessler, J. L. - Claimant

Debevoise, E. W. - Claimant (replaced)

Garro, A. M. - Respondent
59.00 mln USD 53.50 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Decision on Jurisdiction dated June 2006

Award dated 3 November 2008
None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Order (on Petition to Vacate or Modify the award), U.S. District Court for the District of Columbia, dated 7 June 2010 (Judicial review by national courts)

Appeal of Order, U.S. Court of Appeals, dated 7 June 2010 (Judicial review by national courts)

Appeal of Order II, U.S. Court of Appeals, dated 21 April 2011 (Judicial review by national courts)

Certiorari Summary Disposition dated 28 November 2011 (Judicial review by national courts)
None None
42 2003 Pan American v. Argentina Pan American Energy LLC and BP Argentina Exploration Company v. Argentine Republic (ICSID Case No. ARB/03/13) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Indirect and direct ownership of equity interests in three local companies engaged in oil and gas production in Argentina, holders of a number of hydrocarbon (oil and gas) production concessions, exploration permits and production contracts.

Summary: Claims arising out of a series of measures taken in the hydrocarbons and electricity sector by the Government to stem the country's economic crisis of 2001-2002 which allegedly affected the claimants' investments, including the exemption of hydrocarbon exports from export dues, the limitation of royalty rates and the right to freely export hydrocarbons and to transfer funds abroad.
Indirect and direct ownership of equity interests in three local companies engaged in oil and gas production in Argentina, holders of a number of hydrocarbon (oil and gas) production concessions, exploration permits and production contracts. Settled Argentina United States of America Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Caflisch, L. - President

van den Berg, A. J. - Claimant

Stern, B. - Respondent
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Preliminary Objections dated 27 July 2006

Order taking note of the discontinuance issued by the Tribunal dated 20 August 2008, pursuant to Arbitration Rule 43(1)
None None None None None None
43 2003 Pioneer v. Argentina Pioneer Natural Resources Company, Pioneer Natural Resources (Argentina) S.A. and Pioneer Natural Resources (Tierra del Fuego) S.A. v. Argentine Republic (ICSID Case No. ARB/03/12) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Shareholding in local companies holding hydrocarbon and electricity concessions.

Summary: Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment and frustrated the investor's ability to hedge against the risk of the devaluation of the pesos.
Shareholding in local companies holding hydrocarbon and electricity concessions. Settled Argentina United States of America Primary: B - Mining and quarrying

Tertiary: D - Electricity, gas, steam and air conditioning supply
6 - Extraction of crude petroleum and natural gas

35 - Electricity, gas, steam and air conditioning supply
Caflisch, L. - President

Bernardini, P. - Claimant

Stern, B. - Respondent
650.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Tribunal dated 23 June 2005, pursuant to Arbitration Rule 43(1) None None None None None None
44 2003 Suez and Interagua v. Argentina Suez, Sociedad General de Aguas de Barcelona, S.A. and Interagua Servicios Integrales de Agua, S.A. v. Argentine Republic (ICSID Case No. ARB/03/17) Argentina - France BIT (1991)

Argentina - Spain BIT (1991)
ICSID ICSID Investment: Shareholding in local company that had a concession for water distribution and waste water treatment services in the Argentine Province of Santa Fe.

Summary: Claims arising out of a series of alleged acts and omissions by Argentina, including its alleged failure or refusal to apply previously agreed adjustments to the tariff calculation and adjustment mechanisms affecting claimants' investment.
Shareholding in local company that had a concession for water distribution and waste water treatment services in the Argentine Province of Santa Fe. Data not available Argentina France Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Salacuse, J. W. - President

Kaufmann-Kohler, G. - Claimant

Nikken, P. - Respondent
257.70 mln USD Data not available Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Data not available Decision on Liability dated 30 July 2010

Decision on Jurisdiction dated 16 May 2006

Award dated 4 December 2015
Separate Opinion of Arbitrator Pedro Nikken (Decision on Liability) None None None None None
45 2003 Telefónica v. Argentina Telefónica S.A. v. Argentine Republic (ICSID Case No. ARB/03/20) Argentina - Spain BIT (1991) ICSID ICSID Investment: Indirect majority shareholding in local company holding a telecom license.

Summary: Claims arising out of the modification of the investor's licensee tariff regime, as a result of the enactment of Argentina's Emergency Law, whereby the free conversion of the Argentine currency into U.S. dollars was eliminated and previous dollar adjustment clauses and indexation clauses based on foreign price indexes became invalid.
Indirect majority shareholding in local company holding a telecom license. Settled Argentina Spain Tertiary: J - Information and communication 61 - Telecommunications Sacerdoti, G. - President

Brower, C. N. - Claimant

Siqueiros, E. - Respondent
2800.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 25 May 2006

Order taking note of the discontinuance issued by the Tribunal dated 24 September 2009, pursuant to ICSID Arbitration Rule 43(1)
None None None None None None
46 2003 Unisys v. Argentina Unisys Corporation v. Argentine Republic (ICSID Case No. ARB/03/27) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Indirect controlling interest in local company engaged in providing IT services to the Argentine judiciary.

Summary: Claims arising out of alleged breaches of a contract for an information‑storage and management project entered into between claimant's local subsidiary and the Argentinean Consejo de la Magistratura, an administrative body that at the time of the measures was in charge of the administration of the Argentine judiciary's assets and contracts.
Indirect controlling interest in local company engaged in providing IT services to the Argentine judiciary. Pending Argentina United States of America Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Fernández-Armesto, J. - President

Bernardini, P. - Claimant

Chabaneix, J. P. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
47 2003 Vivendi v. Argentina (II) Suez, Sociedad General de Aguas de Barcelona, S.A. and Vivendi Universal, S.A. (formerly Aguas Argentinas, S.A., Suez, Sociedad General de Aguas de Barcelona, S.A. and Vivendi Universal, S.A.) v. Argentine Republic (II) (ICSID Case No. ARB/03/19) Argentina - France BIT (1991)

Argentina - Spain BIT (1991)
ICSID ICSID Investment: Shareholding in local company that had a concession for water distribution and waste water treatment services in the city of Buenos Aires and some surrounding municipalities.

Summary: Claims arising out of a series of alleged acts and omissions by Argentina, including its alleged failure or refusal to apply previously agreed adjustments to the tariff calculation and adjustment mechanisms affecting claimants' investment.
Shareholding in local company that had a concession for water distribution and waste water treatment services in the city of Buenos Aires and some surrounding municipalities. Decided in favour of investor Argentina France

Spain
Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Salacuse, J. W. - President

Kaufmann-Kohler, G. - Claimant

Nikken, P. - Respondent
834.10 mln USD 383.60 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Liability dated 30 July 2010

Decision on Jurisdiction dated 3 August 2006

Award dated 9 April 2015
Separate Opinion of Arbitrator Pedro Nikken (Decision on Liability) ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Sachs, K. - President

Carmichael, T. A. - Member

Oreamuno Blanco, R. - Member
48 2002 AES v. Argentina AES Corporation v. Argentine Republic (ICSID Case No. ARB/02/17) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Controlling interest in several electricity generation and electricity distribution companies in Argentina.

Summary: Claims arising out of Argentina's alleged refusal to apply previously agreed tariff calculation and adjustment mechanisms with regard to claimant's investments.
Controlling interest in several electricity generation and electricity distribution companies in Argentina. Pending Argentina United States of America Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Dupuy, P.-M. - President

Böckstiegel, K.-H. - Claimant

Bello Janeiro, D. - Respondent
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Pending Decision on Jurisdiction dated 26 April 2005 None None None None None None
49 2002 LG&E v. Argentina LG&E Energy Corp., LG&E Capital Corp. and LG&E International Inc. v. Argentine Republic (ICSID Case No. ARB/02/1) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Rights under license agreements for gas distribution entered into with the Government through three local subsidiaries.

Summary: Claims arising out of certain measures adopted by Argentina, in particular the adoption of the Emergency Law of 2002, which modified the regulatory environment under which the claimants invested in three natural gas distribution enterprises in Argentina.
Rights under license agreements for gas distribution entered into with the Government through three local subsidiaries. Decided in favour of investor Argentina United States of America Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Bogdanowsky de Maekelt, T. - President

van den Berg, A. J. - Claimant

Rezek, F. - Respondent
268.00 mln USD 57.40 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Decision of the Arbitral Tribunal on Objections to Jurisdiction dated 30 April 2004

Decision on Liability dated 3 October 2006

Award dated 25 July 2007
None ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 44 issued by The Secretary-General dated 20 February 2015 (ICSID annulment proceedings) None None
50 2002 Sempra v. Argentina Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/02/16) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Equity interest in two Argentinean gas distribution companies.

Summary: Claims arising out of Argentina's suspension of the licensee companies' tariff increases based on the US producer price index and the subsequent pesification of these tariffs.
Equity interest in two Argentinean gas distribution companies. Decided in favour of investor Argentina United States of America Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Orrego Vicuña, F. - President

Lalonde, M. - Claimant

Morelli Rico, S. - Respondent
209.00 mln USD 128.00 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Award dated 28 September 2007

Decision on Objections to Jurisdiction dated 11 May 2005
Partial Dissenting Opinion of Mr. Marc Lalonde (Award) ICSID annulment proceedings

ICSID resubmission proceedings
Award/decision annulled in its entirety (ICSID annulment proceedings)

Discontinued for unknown reasons (ICSID resubmission proceedings)
Decision on the Argentine Republic’s Application for Annulment of the Award dated 29 June 2010 (ICSID annulment proceedings)

Order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 44 dated 3 April 2015 (ICSID resubmission proceedings)
None Söderlund, C. - President

Edward, D. A. O. - Member

Jacovides, A. J. - Member
51 2002 Siemens v. Argentina Siemens A.G. v. The Argentine Republic (ICSID Case No. ARB/02/8) Argentina - Germany BIT (1991) ICSID ICSID Investment: Sole shareholder of local investment vehicle company; claims to money under certain contract; business concessions conferred by public law.

Summary: Claims arising out of the government's suspension and subsequent termination of a contract to establish a system of migration control and personal identification.
Sole shareholder of local investment vehicle company; claims to money under certain contract; business concessions conferred by public law. Decided in favour of investor Argentina Germany Tertiary: O - Public administration and defence; compulsory social security 84 - Public administration and defence; compulsory social security Rigo Sureda, A. - President

Brower, C. N. - Claimant

Bello Janeiro, D. - Respondent
462.50 mln USD 237.80 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures
Award dated 6 February 2007

Decision on Jurisdiction dated 3 August 2004
Separate Opinion by Professor Domingo Bello Janeiro (Award) ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the proceeding issued by the ad hoc Committee dated 28 September 2009, pursuant to ICSID Arbitration Rule 43(1) (ICSID annulment proceedings) None Guillaume, G. - President

Feliciano, F. P. - Member

Shahabuddeen, M. - Member
52 2001 Azurix v. Argentina (I) Azurix Corp. v. The Argentine Republic (I) (ICSID Case No. ARB/01/12) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Indirect controlling interest in local subsidiary that had a concession agreement for water distribution and sewerage treatment services.

Summary: 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.
Indirect controlling interest in local subsidiary that had a concession agreement for water distribution and sewerage treatment services. Decided in favour of investor Argentina United States of America Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Rigo Sureda, A. - President

Lalonde, M. - Claimant

Martins, D. H. - Respondent
685.00 mln USD 165.20 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures
Decision on Jurisdiction dated 8 December 2003

Award issued on 14 July 2006 dated 14 July 2006
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on the Application for Annulment of the Argentine Republic dated 1 September 2009 (ICSID annulment proceedings) None Griffith, G. - President

Ajibola, B. - Member

Hwang, M. - Member
53 2001 CMS v. Argentina CMS Gas Transmission Company v. The Argentine Republic (ICSID Case No. ARB/01/8) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Shareholding in local subsidiary involved in gas transportation activities.

Summary: Claims arising out of Argentina's suspension/termination of the claimant right to calculate tariffs in US dollars and to make inflation adjustments.
Shareholding in local subsidiary involved in gas transportation activities. Decided in favour of investor Argentina United States of America Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Orrego Vicuña, F. - President

Lalonde, M. - Claimant

Rezek, F. - Respondent
261.10 mln USD 133.20 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Decision on Jurisdiction dated 17 July 2003

Award dated 12 May 2005
None ICSID annulment proceedings

Judicial review by national courts
Award/decision partially annulled (ICSID annulment proceedings)

Award/decision upheld (Judicial review by national courts)
Decision of the Ad hoc Committee on Argentina's application for annulment dated 25 September 2007 (ICSID annulment proceedings)

Memorandum Opinion & Order, United States District Court Southern District New York dated 30 September 2012 (Judicial review by national courts)

Enforcement Decision by the US Court of Appeals dated 19 August 2013 (Judicial review by national courts)
None Guillaume, G. - President

Elaraby, N. - Member

Crawford, J. R. - Member
54 2001 Enron v. Argentina Enron Creditors Recovery Corporation (formerly Enron Corporation) and Ponderosa Assets, L.P. v. Argentine Republic (ICSID Case No. ARB/01/3) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Equity and capital contributions in a gas transportation company; contractual rights under technical assistance agreement and operation license.

Summary: Claims arising out of certain tax assessments allegedly imposed by Argentinean provinces in respect to a gas transportation company in which the claimants participated through investments in various corporate arrangements, as well as the Government's alleged refusal to allow tariff adjustments in accordance with the US Producer Price Index.
Equity and capital contributions in a gas transportation company; contractual rights under technical assistance agreement and operation license. Decided in favour of investor Argentina United States of America Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Orrego Vicuña, F. - President

Tschanz, P.-Y. - Claimant

van den Berg, A. J. - Respondent

Gros Espiell, H. - Respondent (replaced)
582.00 mln USD 106.20 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Decision on Jurisdiction dated 14 January 2004

Decision on Jurisdiction on ancillary claim dated 2 August 2004

Award dated 22 May 2007
None ICSID annulment proceedings

ICSID resubmission proceedings
Award/decision partially annulled (ICSID annulment proceedings)

Pending (ICSID resubmission proceedings)
Decision on the Application for Annulment of the Argentine Republic dated 30 July 2010 (ICSID annulment proceedings) None Griffith, G. - President

Robinson, P. L. - Member

Tresselt, P. - Member
55 1999 Empresa Nacional de Electricidad v. Argentina Empresa Nacional de Electricidad S.A. v. Argentine Republic (ICSID Case No. ARB/99/4) Argentina - Chile BIT (1991) ICSID ICSID Investment: Concession agreement to operate a hydroelectric power plant.

Summary: Data not available
Concession agreement to operate a hydroelectric power plant. Discontinued Argentina Chile Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Oreamuno Blanco, R. - President

Elias, E. - Claimant

Gros Espiell, H. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Tribunal dated 7 February 2001, pursuant to Arbitration Rule 44 None None None None None None
56 1999 Mobil Argentina v. Argentina Mobil Argentina S.A. v. Argentine Republic (ICSID Case No. ARB/99/1) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Data not available

Summary: Claims arising out of a petroleum exploration and production venture.
Data not available Discontinued Argentina United States of America Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Tribunal not constituted Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Secretary-General dated 21 July 1999, pursuant to Arbitration Rule 44 None None None None None None
57 1998 Houston Industries v. Argentina Houston Industries Energy, Inc. and others v. Argentine Republic (ICSID Case No. ARB/98/1) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Rights under a concession agreement for the provision of electricity distribution services in Argentina.

Summary: Claims arising out of disagreements over a concession agreement for the provision of electricity distribution services in the Santiago del Estero province in Argentina.
Rights under a concession agreement for the provision of electricity distribution services in Argentina. Data not available Argentina United States of America Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Bernardini, P. - President

van den Berg, A. J. - Claimant

Torres Bernárdez, S. - Respondent
Data not available Data not available Data not available Data not available Award dated 24 August 2001 None None None None None None
58 1997 Lanco v. Argentina Lanco International Inc. v. Argentine Republic (ICSID Case No. ARB/97/6) Argentina - United States of America BIT (1991) ICSID ICSID Investment: Shareholding in company having a concession agreement for the development and operation of a port terminal in the city of Buenos Aires.

Summary: Claims arising out of the alleged breach of a concession agreement entered into between the Argentinean Ministry of Public Works and Services on the one hand, and Lanco International on the other, for the development and operation of a port terminal in Buenos Aires.
Shareholding in company having a concession agreement for the development and operation of a port terminal in the city of Buenos Aires. Discontinued Argentina United States of America Tertiary: F - Construction 43 - Specialized construction activities Cremades, B. M. - President

Aguilar Álvarez, G. - Claimant

Baptista, L. O. - Respondent
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause
Not applicable - settled or discontinued before decision on liability Jurisdiction of the Arbitral Tribunal dated 8 December 1998

Order taking note of the discontinuance issued by the Tribunal dated 17 October 2000, pursuant to Arbitration Rule 44
None None None None None None
59 1997 Vivendi v. Argentina (I) Compañía de Aguas del Aconquija S.A. and Vivendi Universal S.A. (formerly Compañía de Aguas del Aconquija, S.A. and Compagnie Générale des Eaux) v. Argentine Republic (I) (ICSID Case No. ARB/97/3) Argentina - France BIT (1991) ICSID ICSID Investment: Rights under a concession contract concluded between claimant's Argentine affiliate company and the Province of Tucumán for operating the water and sewage system of Tucumán.

Summary: Claims arising out of a series of decrees, resolutions, laws, and legal opinions of the Argentine Republic and its constituent Province of Tucumán which were allegedly designed to undermine the operation of a thirty-year water and sewerage concession contract.
Rights under a concession contract concluded between claimant's Argentine affiliate company and the Province of Tucumán for operating the water and sewage system of Tucumán. Decided in favour of investor Argentina France Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Rezek, F. - President

Trooboff, P. D. - Claimant

Buergenthal, T. - Respondent
317.00 mln USD 105.00 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award dated 21 November 2000 None ICSID annulment proceedings

ICSID resubmission proceedings

ICSID annulment proceedings
Award/decision partially annulled (ICSID annulment proceedings)

Decided in favour of the investor (ICSID resubmission proceedings)

Award/decision upheld (ICSID annulment proceedings)
Decision on Annulment dated 3 July 2002 (ICSID annulment proceedings)

Award II dated 20 August 2007 (ICSID resubmission proceedings)

Decision on the Argentine Republic’s Request for Annulment of the Award rendered on 20 August 2007 dated 10 August 2010 (ICSID annulment proceedings)
None Fortier, L. Y. - President

Crawford, J. R. - Member

Fernández Rozas, J. C. - Member

El-Kosheri, A. S. - President

Jacovides, A. J. - Member

Dalhuisen, J. H. - Member