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Argentina had provided reasonable assurances, through a written undertaking, that it would enforce the award and not subject it to review by national courts
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Applicant should be entitled to stay subject to reasonable assurances that the award, if not annulled, will be complied with; the committee may impose conditions in case of doubt
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Likelihood of success was deemed irrelevant absent any indication of dilatory conduct
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Committee has discretion in deciding request for continued stay, including the power to impose conditions
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Background: Argentina applied for annulment of 133 million USD award and requested continued stay of enforcement
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Background to the case
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Tribunal confirms emergency arbitrator’s award, interprets decision, and doubles down on first decision
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Background: JKX submits that gas fee and measures adopted in response to Crimea crisis violated the UK-Ukraine BIT
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Broader “strategic” dispute and alleged clean hands do not make the dispute inadmissible
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Nature of State-Owned Company linked to the merits
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Fair and Equitable Treatment does not include upholding sovereign immunities
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Several articles invoked by Iran are deemed off-limits, as they do not concern Iran’s immunities
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Exception clause is not relevant to jurisdiction but only a defence on the merits
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Broader dispute is irrelevant to jurisdiction
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Background: Claimants invested in wind farms in northern Spain
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Domestic law procedure hard to square with international law, even in abstract
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A “valid exercise of the State’s police powers” does not constitute an expropriation
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Arbitrators nod to global regulatory context and other international obligations
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Tribunal defers to NAFTA governments’ views on MFN clause
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NAFTA Article 1105 is at centre of case as tribunal reviews fairness and due process
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First tribunal did not decide the merits of the claim
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Dissenter sees no role for EU law in the analysis
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No gross-up to account for Japanese taxes
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No expropriation absent vested right to FiT remuneration
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