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. The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded. • LCIA: London Court of International Arbitration The information included in the Navigator is collected from publicly available sources. Status/Outcome of original proceedings A case remains pending if any of the following elements remain to be decided: jurisdiction, liability (merits), compensation. that investments shall at all times be accorded fair and equitable treatment (Article II(2)(a) of the BIT) First Jurisdiction Decision: Enron Corporation and Ponderosa Assets L.P. v. Argentine Republic, ICSID Case No ARB/01/3, Decision on Jurisdiction, January 14, 2004 where the arbitral tribunal determines procedural rules, are marked “None (ad hoc)”. Enron Corporation and Ponderosa Assets, L.P. initiated ICSID arbitral proceedings claiming multiple violations of the 1991 Argentina-US BIT and requesting damages. ISDS data set in excel format (as of 31 July 2019) The award was therefore annulled. The Tribunal found that the dismantling of the regulatory framework, on which the Claimants had legitimately relied at the time of making the investment, constituted a violation of the BIT fair and equitable treatment obligation. Arbitral rules In the Respondent's estimate, Enron would have paid US$84.8 million for the purchase of the original 17.5% interest in TGS and an alleged US$250.4 million for the additional 18% purchased later, resulting in a total investment of US$335.1 million for the … BRIEF SUMMARY Enron claimed that Argentina violated an … Explore the world's most comprehensive free database of investment treaties and model agreements. Applicable IIA Instances where the respondent failed to appoint an arbitrator, and the latter was appointed by an “appointing authority”, are not recorded separately (i.e. ARB/05/18) ... Enron v. Argentina, Metalclad v. Mexico and Myers v. Canada, the tribunal found no basis to differentiate between the damage caused between Mr Kardassopoulos and Mr Fuchs, as their investment was irretrievably and entirely lost (¶¶ 532-534). Full case name When the relevant decision is not publicly available, information about breaches found may be obtained from other public sources that are deemed reliable. Enron scandal, series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world. PCA). The list of currencies in the Navigator follows the International Organization for Standardization (ISO) 4217 code list. 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 full case name is recorded as it appears in the official case documents and as it is registered at the administering institution if applicable (listing the claimants in alphabetical order). Go Pro to view an analysis and graphs of case roles, types and more. 144 Rows Total: Page 3 of 3 | Go To : Date Recorded: Party: Role: Document Type: Document No. An objective evaluation of a country’s legal, regulatory and institutional framework to attract direct investments. Case Overview: Azurix v. Argentina involved a U.S. company’s successful bid for privatization of an Argentinean company, owned and operated by … The Navigator is updated on a regular, typically biannual, basis. End of Document. (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ Composition of tribunal The entry point for all country specific investment policy data. Amounts are recorded in the currency used by the claimant/tribunal. The union of the two companies took on the name Repsol YPF. 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. Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases. Similarly, procedural orders issued by arbitral tribunals are not included. The UNCTAD Investment Dispute Settlement Navigator – the ISDS Navigator – is maintained by UNCTAD’s IIA Section. UNCTAD's Work Programme on International Investment Agreements (IIAs) actively assists policymakers, government officials and other IIA stakeholders to reform IIAs with a view to making them more conducive to sustainable development and inclusive growth. Not included are any other (supplementary) arbitral decisions, e.g. http://ita.law.uvic.ca/documents/Enron-Stay_001.pdf. 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). official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. In particular, these include decisions (awards) on jurisdictional issues, liability (merits) and damages, including arbitrators’ individual opinions where these were issued. As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided. On February 26, 2001, the International Centre for Settlement of Investment Disputes (“ICSID” or the “Centre”) received from Enron Corporation and Ponderosa Assets L.P., (the “Claimants”) a Request for Arbitration against the Argentine Republic (the “Argentine Republic” or the “Respondent”). company in Argentina after the nation opened its natural resources to international investors. Related Content. • Develop a wide range of tools to support the formulation of more balanced international investment policies. Economic sector and subsector Find details on all publicly known treaty-based investor-State dispute settlement cases. 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. Please contact us using the online contact form. Enron Corporation and Ponderosa Assets, L.P. v. Argentine Republic (also known as: Enron Creditors Recovery Corp. and Ponderosa Assets, L.P. v. When the proceedings are subject to arbitral rules of a certain arbitral institution (e.g. This is the institution that provides administrative support for the arbitral proceedings. CMS v. Argentina CMS Gas Transmission Co. v. Republic of Argentina, ... 1.0 Case Summary 1.1 Factual background. All Commodities Agriculture Another major development inside Enron was the beginning of the company's pivot to overseas that was expanded upon in the 1990s. Arbitral decisions rendered Equity and capital contributions in a gas transportation company; contractual rights under technical assistance agreement and operation license. © Copyright - UNCTAD Division on Investment and Enterprise. 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. • ICSID: International Centre for Settlement of Investment Disputes • Cases in which a final award has been rendered but which are later subject to follow-on (post-award) proceedings (e.g. claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. The Government of Argentina has a very different view about the amounts actually invested by Enron in the indirect purchase of TGS. Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration. not as “Pending”). For example, in a case where a final award has been rendered but it is later subject to a follow-on proceeding (e.g. Alvarez & Khamsi, supra note 3, at 379. Information about breaches found is primarily derived from the arbitral decisions. at 13-14. Filter By: From : To : Date Filed: Venue: Case Number: Title: Party Type: 11/21/2007: New York Southern Distri It requires policymakers, negotiators, civil society and other stakeholders to be well informed about foreign direct investment, international investment agreements (IIAs) and their impact on sustainable development. • Pending: the arbitration proceedings are pending. 7. To date, the Looking Back series has expanded our database by covering more than 100 such cases. Enron Corporation and Ponderosa Assets, L.P. initiated ICSID arbitral proceedings claiming multiple violations of the 1991 Argentina-US BIT and requesting damages. After ENPH filed under a power purchase agreement (PPA) for arbitration by the ICC, the ICC issued an award in ENPH's favor. • MCCI: Moscow Chamber of Commerce and Industry • ICSID resubmission proceedings. Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. 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. • ICSID annulment proceedings; In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. The three pillars of activities • Technical assistance: delivering trainings, seminars and workshops; conducting IIA and model BIT reviews; offering ad-hoc advice to strengthen the capacity of beneficiaries in handling the complexities of the IIA regime, These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources. In some cases, the approximate amount may be recorded to give a broad indication of the dispute’s magnitude.