The high court, in an opinion by Justice Stephen Breyer, reversed a lower-court ruling that said the arbitration process that led to the award was invalid.
The case dates back to Argentina’s 2001-2002 economic crisis. BG alleged the Argentine government destroyed its investments in the country’s natural-gas distribution sector through a series of state actions. The company also said Argentina threatened businesses with serious penalties if they challenged the government’s crisis-era actions in that country’s courts.” target=”_blank”>The high court, in an opinion by Justice Stephen Breyer, reversed a lower-court ruling that said the arbitration process that led to the award was invalid.
The case dates back to Argentina’s 2001-2002 economic crisis. BG alleged the Argentine government destroyed its investments in the country’s natural-gas distribution sector through a series of state actions. The company also said Argentina threatened businesses with serious penalties if they challenged the government’s crisis-era actions in that country’s courts.
The BG Group case, by the way, is not the defaulted bonds case.
