Sempra Energy International v. Argentine Republic
Marking a new jurisprudential trend in international investment law, an ad hoc committee of the International Centre for Settlement of Investment Disputes (ICSID) annulled the arbitral award in 'Sempra Energy International v. Argentine Republic'. The arbitral tribunal had found that the violations by Argentina of its investment obligations were not excused by reasons of necessity under customary international law or the United States-Argentina bilateral investment treaty (BIT). The committee held that the tribunal had manifestly exceeded its powers by committing a manifest error of law, that is, by equating the BIT necessity provisions with those under customary international law
Downloadable Article, 2011
AMERICAN JOURNAL OF INTERNATIONAL LAW, 105, 201107, 547
2011