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2 clusters · 6 sources · 13 days · First seen 18 days ago · Last updated 5 days ago

Argentina airline nationalization legal dispute

Overview

A U.S. federal appeals court has ruled that Argentina is liable for approximately $391 million related to the 2008 nationalization of Aerolíneas Argentinas and Austral. The dispute arose from the expropriation of the airlines, which were previously controlled by the Spanish conglomerate Grupo Marsans, in violation of international treaties.

The ruling follows a 2017 decision by the World Bank’s International Centre for Settlement of Investment Disputes, which ordered Argentina to pay $320.76 million plus interest and legal costs. The claim was subsequently sold by Burford Capital to Titan Consortium. Argentina had challenged the enforcement of the award in the United States, arguing that a three-year statute of limitations should apply. However, a unanimous federal appeals court sided with Titan Consortium, determining that these awards are treated as final court judgments, which typically allow for a 12-year enforcement period.

Entities

Supreme Court of Justice of Argentina · World Bank · Argentina · Cristina Fernández de Kirchner · Aerolíneas Argentinas

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The Chamber declared the expiration of the instance in the civil lawsuit initiated by Vialidad Nacional. opinionpropia.com.ar · santiagonoticias.com.ar
[● 2 SOURCES] The estimated legal fees to be paid by the State amount to 13,614 million pesos. opinionpropia.com.ar · santiagonoticias.com.ar
[● 2 SOURCES] The government, through Vialidad Nacional, filed an appeal with the Supreme Court to reverse the decision. opinionpropia.com.ar · santiagonoticias.com.ar
[○ 1 SOURCE] The legal fees for Cristina Fernández de Kirchner's defense are approximately 880.9 million pesos. santiagonoticias.com.ar
[○ 1 SOURCE] The civil lawsuit ended without a sentence because the State failed to maintain procedural continuity. totalnewsagency.com

Timeline

5 days ago

[POLITICS] 4 sources
Argentina faces $10 million legal fee payout after civil suit dismissal
The Argentine State may owe nearly 10 million USD in legal fees after a civil lawsuit against Cristina Fernández de Kirchner was dismissed due to procedural inaction by Vialidad Nacional.
18 days ago

[BUSINESS] 2 sources
Argentina ordered by U.S. court to pay $391 million over airline nationalization
A U.S. appeals court ruled that Argentina must pay $391 million to Titan Consortium following the 2008 nationalization of Aerolíneas Argentinas.

Sources

boardingarea.com · elmonterizo.com · opinionpropia.com.ar · santiagonoticias.com.ar · totalnewsagency.com · viewfromthewing.com