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Webuild S.p.A. (formerly Salini Impregilo S.p.A.) v. Argentine Republic, ICSID Case No. ARB/15/39

New
Short Name:

Webuild (formerly Salini Impregilo) v. Argentina

Case Type:
International Investment Agreement (Investor–State)
Seat of Arbitration:
Applicable Treaty:
Argentina-Italy BIT (1990)
Applicable Legal Instruments:
Argentina - Italy BIT (1990)
Economic Sector:
Transportation and Storage
See case mapped on Investor-State LawGuide

Available documents

23 Feb 2018
Decision on Jurisdiction and Admissibility
Document Details:
PARTICIPANTS
Decision on Jurisdiction and Admissibility
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Claimant appointee:
Kaj Hobér
Respondent appointee
Respondent appointee:
Jürgen Kurtz
Tribunal/Panel chair
Chair/President:
James R. Crawford
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
King & Spalding, U.S.A.
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Decision on Jurisdiction and Admissibility
This summary note is machine-generated. Always consult the original materials.


3 Mar 2023
Decision on Liability and Quantum
Document Details:
PARTICIPANTS
Decision on Liability and Quantum
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Claimant appointee:
Kaj Hobér
Respondent appointee
Respondent appointee:
Jürgen Kurtz
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Roberto J. Aguirre-Luzi, Craig S. Miles, Robert Doak Bishop, David H. Weiss, Eldy Quintanilla Roché, Arturo Oropeza Casas, Esteban Sánchez, King & Spalding
Respondent's counsel
Carlos Alberto Zannini, Horacio Pedro Diez, Sebastián Antonio Soler, Mariana Mabel Lozza, María Alejandra Etchegorry
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Decision on Liability and Quantum
This summary note is machine-generated. Always consult the original materials.


25 Sep 2024
Decision on Respondent Request for Reconsideration
Document Details:
PARTICIPANTS
Decision on Respondent Request for Reconsideration
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Claimant appointee:
Kaj Hobér
Respondent appointee
Respondent appointee:
Jürgen Kurtz
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Roberto J. Aguirre-Luzi, Craig S. Miles, Robert Doak Bishop, David H. Weiss, Eldy Quintanilla Roché, Arturo Oropeza Casas, Esteban Sánchez, King & Spalding
Respondent's counsel
Carlos Alberto Zannini, Horacio Pedro Diez, Sebastián Antonio Soler, Mariana Mabel Lozza, María Alejandra Etchegorry
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Decision on Respondent Request for Reconsideration
This summary note is machine-generated. Always consult the original materials.


28 Apr 2025
Award (English)
Award (Spanish)
Document Details:
PARTICIPANTS
Award (English)
Award (Spanish)
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Claimant appointee:
Kaj Hobér
Respondent appointee
Respondent appointee:
Jürgen Kurtz
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Roberto J. Aguirre-Luzi, Craig S. Miles, Robert Doak Bishop, David H. Weiss, Eldy Quintanilla Roché, Arturo Oropeza Casas, Esteban Sánchez, King & Spalding
Respondent's counsel
Carlos Alberto Zannini, Horacio Pedro Diez, Sebastián Antonio Soler, Mariana Mabel Lozza, María Alejandra Etchegorry
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Award (English)
Award (Spanish)
This summary note is machine-generated. Always consult the original materials.


23 Sep 2025
Decision on the Claimant’s Request for Rectification and the Respondent’s Request for Rectification and Supplementary Decision
Decision on the Claimant’s Request for Rectification and the Respondent’s Request for Rectification and Supplementary Decision
Document Details:
PARTICIPANTS
Decision on the Claimant’s Request for Rectification and the Respondent’s Request for Rectification and Supplementary Decision
Decision on the Claimant’s Request for Rectification and the Respondent’s Request for Rectification and Supplementary Decision
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Claimant appointee:
Kaj Hobér
Respondent appointee
Respondent appointee:
Jürgen Kurtz
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Roberto J. Aguirre-Luzi, Craig S. Miles, Robert Doak Bishop, David H. Weiss, Eldy Quintanilla Roché, Arturo Oropeza Casas, Esteban Sánchez, King & Spalding
Respondent's counsel
Carlos Alberto Zannini, Horacio Pedro Diez, Sebastián Antonio Soler, Mariana Mabel Lozza, María Alejandra Etchegorry
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Decision on the Claimant’s Request for Rectification and the Respondent’s Request for Rectification and Supplementary Decision
Decision on the Claimant’s Request for Rectification and the Respondent’s Request for Rectification and Supplementary Decision
This summary note is machine-generated. Always consult the original materials.


10 Jun 2026
Procedural Order No. 1
Document Details:
PARTICIPANTS
Procedural Order No. 1
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
Fernando Piérola-Castro
ICSID Annulment Committee members
Alexis Mourre, Carita Wallgren-Lindholm
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Roberto J. Aguirre-Luzi, Craig S. Miles, Juan Manuel Poggio Aguerre, Esteban Sánchez, Eldy Quintanilla Roché, María Jesús Herrera Ramognini
Respondent's counsel
Santiago Castro Videla, María Alejandra Etchegorry, María Soledad Romero Caporale, Annabella Sandri Fuentes, Daniela Rodríguez
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Laura Arboleda Gutiérrez
Tribunal assistant
Country
Print reporter
Entities
Webuild S.p.A., King & Spalding, Argentina
Document Summary
Procedural Order No. 1
This summary note is machine-generated. Always consult the original materials.

Procedural Background

This document constitutes Procedural Order No. 1 issued by the ad hoc Committee in the annulment proceeding initiated by the Argentine Republic against Webuild S.p.A. The Order memorializes the agreements reached by the parties and the Committee's directives following the First Session held by video conference on June 2, 2026.

Procedural Rules and Organization

The Committee established the foundational procedural framework governing the annulment phase, confirming the application of the ICSID Arbitration Rules in force as of April 10, 2006, mutatis mutandis. The Order addresses standard administrative matters, including the constitution of the Committee, the apportionment of advance payments to ICSID, and the designation of Washington, D.C. as the place of the proceeding. English and Spanish were designated as the procedural languages.

Evidentiary and Pleading Directives

The Committee set strict limitations on the introduction of new evidence, emphasizing that the annulment proceeding will rely primarily on the evidentiary record from the underlying arbitration. New evidence may only be admitted under special circumstances upon a reasoned written request, with a notable exception for documentary evidence submitted in support of a request to stay enforcement of the Award. The Order concludes by adopting a comprehensive procedural calendar, scheduling the exchange of written submissions on both the continuation of the stay of enforcement and the merits of the annulment application.
3 Jul 2026
Decision on the Stay of Enforcement of the Award
Document Details:
PARTICIPANTS
Decision on the Stay of Enforcement of the Award
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
Fernando Piérola-Castro
ICSID Annulment Committee members
Alexis Mourre, Carita Wallgren-Lindholm
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Roberto J. Aguirre-Luzi, Craig S. Miles, Eldy Quintanilla Roché, Juan Manuel Poggio Aguerre, Esteban Sánchez, María Jesús Herrera Ramognini
Respondent's counsel
Julio Castro Videla, María Alejandra Etchegorry, María Soledad Romero Caporale, Annabella Sandri Fuentes, Daniela Rodríguez
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Laura Arboleda Gutiérrez
Tribunal assistant
Country
Print reporter
Entities
Webuild S.p.A., King & Spalding, Argentina
Document Summary
Decision on the Stay of Enforcement of the Award
This summary note is machine-generated. Always consult the original materials.

Procedural Background

This decision addresses the Argentine Republic’s application for the continuation of the stay of enforcement of the arbitral award rendered on 28 April 2025 in favor of Webuild S.p.A. Following Argentina’s application for annulment of the award under Article 52 of the ICSID Convention, the ICSID Secretary-General provisionally stayed enforcement. The ad hoc Committee was subsequently constituted to determine whether the circumstances required the continuation of the stay pending the outcome of the annulment proceeding.

Parties' Positions

Argentina argued that the stay should be continued unconditionally. It submitted that its domestic legal framework adequately safeguards compliance with ICSID awards, that Webuild would suffer no prejudice beyond a temporary delay fully compensated by post-award interest, and that lifting the stay would cause Argentina serious harm. Specifically, Argentina contended that enforcement would disrupt public expenditure, interfere with its macroeconomic stabilization objectives under an International Monetary Fund facility, and expose it to significant difficulties in recouping funds or facing third-party attachments if the award were ultimately annulled. Webuild opposed the stay, arguing that Argentina has a demonstrated pattern of non-compliance with international awards. Webuild further asserted that a continued stay would cause it irreparable harm and that Argentina possessed the financial capacity to satisfy the award or provide adequate financial security.

Committee's Analysis

The ad hoc Committee emphasized that under Article 52(5) of the ICSID Convention, an award is binding and enforceable, and a stay may only be granted if the applicant establishes circumstances that necessitate it. The Committee determined that the existence of a domestic legal framework capable of enforcing awards does not, in itself, constitute a circumstance requiring a stay. Furthermore, the Committee held that even if Webuild were to suffer no prejudice beyond a temporary postponement of payment, the mere absence of prejudice to the award creditor does not justify continuing the stay.

Turning to the alleged harm to Argentina, the Committee found that the State failed to demonstrate a concrete, case-specific, and time-sensitive risk of prejudice. The Committee reasoned that general macroeconomic constraints, budgetary flexibility, and obligations under IMF programs do not establish that the possibility of enforcement would produce the requisite prejudice. Additionally, the Committee dismissed Argentina’s concerns regarding the potential difficulties of recoupment and the risk of third-party attachments as contingent possibilities inherent in the ICSID system, which do not independently necessitate a stay of enforcement.

Decision

The ad hoc Committee rejected the Argentine Republic’s application for a continued stay of enforcement. Consequently, the Committee ordered that the provisional stay of enforcement currently in place be lifted with immediate effect. The Committee reserved its decision on the allocation of costs, fees, and expenses incurred in connection with the application for its final decision on annulment.
11 Aug 2026
Procedural Order No. 1 - Amended Procedural Calendar
Document Details:
PARTICIPANTS
Procedural Order No. 1 - Amended Procedural Calendar
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Procedural Order No. 1 - Amended Procedural Calendar
This summary note is machine-generated. Always consult the original materials.