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AES v. Argentina, Claimant's to Respondent on Payment with the Award, June 9, 2025

9 Jun 2025
AES Corporation v. Argentine Republic, ICSID Case No. ARB/02/17 
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Claimant's to Respondent on Payment with the Award
Document Details:
LISTED PARTICIPANTS
Claimant's to Respondent on Payment with 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
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Nigel Blackaby, James M. Hosking
Claimant's law firm
Respondent's counsel
Santiago María Castro Videla, Juan Ignacio Stampalija, Julio Pablo Comadira, Mariana Mabel Lozza, María Alejandra Etchegorry, Eduardo Silva Romero, José-Manuel García Represa, Javier Echeverri, Ruxandra Irina Esanu
Respondent's law firm
Other counsel
Claimant's expert
Claimant's expert firm
Respondent's expert
Manuel Flores
Respondent's expert firm
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Third-party funder
Entities
AES Corporation, Chaffetz Lindsey, Wordstone Dispute Resolution, Freshfields Bruckhaus Deringer, Argentina
Country
Print reporter
Document Summary
Claimant's to Respondent on Payment with the Award
This summary note is machine-generated. Always consult the original materials.

Procedural Posture and Purpose

This document comprises a formal demand letter submitted by counsel for the Claimant, The AES Corporation, to the Argentine Republic, seeking prompt compliance with the arbitral award rendered on 30 May 2025 in ICSID Case No. ARB/02/17. The correspondence formally requests the execution of a wire transfer to satisfy the Respondent's pecuniary obligations under the Award, invoking the Respondent's binding obligation to comply with the Award pursuant to Article 53(1) of the ICSID Convention.

Principal Issues and Claimant's Position

The Claimant outlines the specific financial liabilities established by the Tribunal, which include US$715.9 million in principal damages, alongside continuous pre- and post-award interest calculated at the 1-year United States Treasury Bill rate. Furthermore, the letter details the Respondent's obligation to reimburse legal fees and expenses amounting to US$15,807,955.30, as well as arbitration costs of US$1,273,176.52. According to the Claimant's calculations, the total outstanding quantum, inclusive of accumulated interest as of 31 May 2025, amounts to US$819,057,549.

Operative Demands

The Claimant establishes a deadline of 13 June 2025 for the Respondent to confirm that full payment will be executed no later than 20 June 2025. The correspondence expressly reserves the Claimant's rights to initiate recognition and enforcement proceedings across relevant jurisdictions should the Respondent fail to remit the demanded sums voluntarily.