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Compañía de Aguas del Aconquija, S.A. and Compagnie Générale des Eaux v. Argentina

Type of decisionDecision on the Argentine Republic's Request for a Continued Stay of Enforcement of the Award
Date of decision4 November 2008
Ahmed Sadek El-Kosheri (President)
Andreas J. Jacovides
Jan Hendrik Dalhuisen
Legal instrumentBIT between Argentina and France (1991)
Related decision(s)
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Statements from this decision

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While different tribunals should seek to act consistently with one another, there is no doctrine of precedent
When considering the stay of enforcement according to Article 52(5) ICSID Convention, the tribunal's decision should not be affected by the prospects of the annulment request
The granting of the stay of enforcement according to Article 52(5) ICSID Convention should depend on the circumstances of the case
When deciding on the stay of enforcement, a tribunal has to take into account that the interest accumulating during the annulment procedures constitutes an appropriate remedy mitigating the immediate harm of the claimant
When exercising its discretion on whether to order the stay of enforcement according to Article 52 ICSID Convention, the rules of Article 53 ICSID Convention are of great significance for the tribunal
Even though Article 54(3) ICSID Convention does not include a reference to a "foreign state" (contrary to Article 55 ICSID Convention), an ICSID award must be protected from court intervention in all states, especially the state against whom the award was rendered


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