D.C. Circuit Vacates $ 185 Million Arbitration Award Against Argentina
WASHINGTON, D.C. – A U.S. appeals court on Jan. 17 vacated a district court’s confirmation of a $ 185,285,485.85 arbitration award issued by a foreign tribunal against the Republic of Argentina and in favor of an English distribution company, finding that the arbitration panel failed to adhere to a precondition in the agreement between parties that required the investor to first file a claim in an Argentine court (Republic of Argentina v. BG Group PLC, No. 11-7021, D.C. Cir.; 2012 U.S. App. LEXIS 905).
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