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BG Group/Argentina appeal case reaches US Supreme Court

Tuesday, November 6th 2012 - 21:39 UTC
Full article 14 comments

The US Supreme Court on Monday asked for the US government's views on a British Gas Group PLC appeal that seeks to restore a 185 million dollars arbitration award the company won against Argentina in 2007. Read full article

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  • toooldtodieyoung

    “The arbitral panel based in Washington, awarded BG 185 million dollars after finding that Argentina violated the treaty by failing to provide fair and equitable treatment to investors”

    Who would have guessed? Argentina Violating a treaty?

    “Failing to provide fair and equitable treatment to investors” and I suppose that the Argentinian's will appeal saying that all of the above was standard working practice..........

    Nov 06th, 2012 - 10:07 pm - Link - Report abuse 0
  • surfer

    Invest in Argentina....you will lose your shirt
    Invest in Argentina....you will lose your shirt
    Invest in Argentina....you will lose your shirt
    Invest in Argentina....you will lose your shirt
    Invest in Argentina....you will lose your shirt
    Invest in Argentina....you will lose your shirt
    and repeat.................ad nauseum

    Nov 06th, 2012 - 10:59 pm - Link - Report abuse 0
  • Pete Bog

    Can't help British Gas should have seen how much money British banks lost in Argentina in the 1980s. I hope they can recover some money but they should have seen it coming. Might be a good idea for them to invest in Falkland hydrocarbons-at least the Falkland Islanders are honest and what you see is what you get.

    Nov 06th, 2012 - 11:19 pm - Link - Report abuse 0
  • surfer

    anybody brave enough to even think about investing in YPF, take note.

    Nov 06th, 2012 - 11:27 pm - Link - Report abuse 0
  • Pirate Love

    it never rains but it pours :)

    more international shame for argentina please, if its possible.

    Nov 07th, 2012 - 02:29 am - Link - Report abuse 0
  • We got your Fragata

    Argentina - a non-country that the world would be better if it totally disappeared!

    Nov 07th, 2012 - 03:26 am - Link - Report abuse 0
  • ChrisR

    From 1980 to 1986 I was involved, via one of my businesses with BG at the highest level.

    Arrogant, dismissive of independent advice that differed from their in-house people, it does not surprise me in the least that this has happened.

    Someone close to the directors must have seen this on the horizon but I would bet real money that the term ‘they would not dare’ finished the discussion.

    Even if they win, and natural justice dictates that they should, AG will NEVER pay.

    Nov 07th, 2012 - 09:41 am - Link - Report abuse 0
  • Idlehands

    7 ChrisR

    That must have been even earlier than the days of Sid!

    Nov 07th, 2012 - 12:42 pm - Link - Report abuse 0
  • Britworker

    If they can't even pay 20m to get their flagship back, they were never going to pay this even if British Gas won. The moral of the story is invest in Argentina at your peril!

    Nov 07th, 2012 - 02:05 pm - Link - Report abuse 0
  • GeoffWard2

    Sounds like the DC Circuit judge is (i) a fracophobe, or (ii) believes that BG is British .. in which case he's an Anglophobe.

    On the other hand, perhaps the presented Argentinian case is simply legally better than the BG case.
    I guess the US Supreme court will be judging not only Argentina and BG but DC Circuit decision-making as well.
    In any case, it's only $185 million; small change out of the Argentinian government's back-pockets.

    Nov 07th, 2012 - 02:41 pm - Link - Report abuse 0
  • ChrisR

    8 Idlehands

    Spot on, it was 1986.

    @10 GeoffWard2

    But who knows how much AG have in their back-pockets? :o)

    Nov 07th, 2012 - 05:18 pm - Link - Report abuse 0
  • Pugol-H

    An ever increasing number on going court battles, individual corporations, vulture funds, other countries in the WTO.

    All needing teams of specialist lawyers (money up front in dollars, no doubt).

    The costs for Argentina of all this must be considerable.

    War on far too many fronts at once, how sustainable is that?

    Nov 07th, 2012 - 07:49 pm - Link - Report abuse 0
  • British_Kirchnerist

    Hope BG get nothing, its not like any money they do get will go towards lowering scandalous energy prices at home...

    Nov 09th, 2012 - 11:31 am - Link - Report abuse 0
  • surfer

    Hopefully BG will receive the money they are owed, certainly looking good at the moment.

    Things are certainly looking up for Argentina's creditors, progress at last.

    Nov 10th, 2012 - 06:29 am - Link - Report abuse 0

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