Argentina must pay $390 million over Aerolíneas Argentinas expropriation

The U.S. Court of Appeals for the District of Columbia affirmed the lower‑court judgment that Argentina must satisfy a CIADI arbitration award stemming from the 2008 expropriation of Aerolíneas Argentinas and Austral. The award, originally US$321 million, has accrued interest and now totals more than US$390 million as of 10 December 2024.

Titan Consortium, the current holder of the claim after acquiring rights from Burford Capital, sought U.S. recognition and enforcement of the award. Argentina argued that a three‑year prescription period applied, but the courts applied a twelve‑year period, rejecting the appeal.

The ruling does not impose an immediate payment but enables Titan to pursue seizure of Argentine sovereign assets abroad. Argentina’s Treasury said it is reviewing all legal options to mitigate the impact, noting the debt adds to the country’s longstanding fiscal challenges.