High Court Revives $185M Argentine Gas Arbitration Award
By Keith Goldberg
Law360, New York (March 5, 2014, 12:05 PM EST) -- The U.S. Supreme Court on Wednesday reinstated BG Group PLC's $185 million arbitration award over an investment in now-bankrupt Argentine gas distributor MetroGas SA, saying arbitrators, not courts, should primarily interpret and apply a bilateral investment treaty's local litigation requirement to an underlying dispute.
In a 7-2 decision, the high court reversed a 2012 D.C. Circuit ruling that overturned the British natural gas exploration company's arbitration award by concluding that the arbitration panel had overstepped its authority by taking on the case in violation of the...