Argentina Not Immune From $133M Arbitration Claim: 2nd Circ.

Law360, Washington (August 19, 2013, 6:44 PM EDT) -- The Second Circuit on Monday rejected the Republic of Argentina's attempts to thwart a Bank of America Corp. subsidiary's claim on a $133 million international arbitration award over gas tariffs, saying the country isn't immune from the claim.

Although Argentina claimed foreign sovereign immunity from Blue Ridge Investments LLC's petition to confirm the $133.2 million International Centre for Settlement of Investment Disputes award, the two-judge panel determined the country had waived those rights and the petition could move forward.

Argentina also alleged Blue Ridge couldn't file...
To view the full article, register now.