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mercure1
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Posts: 4307
Joined: Sun Jul 13, 2008 5:13 am

Argentina pay US$320m damages over Aerolíneas nationalisation

Fri May 31, 2019 8:17 pm

Hopefully this is the end for this long case and Argentina pays up.



Argentina must pay US$320 million in damages after the International Centre for Settlement of Investment Disputes (CIADI) ruled against the an appeal to earlier ruling ordering Argentina pay Spanish Grupo Marsans damages after the Cristina Fernández de Kirchner administration nationalised the airline in 2008, paying a symbolic one peso (30 US cents).

https://www.batimes.com.ar/news/argenti ... ourt.phtml
mercure f-wtcc
 
Swadian
Posts: 536
Joined: Sun Sep 11, 2016 4:56 am

Re: Argentina pay US$320m damages over Aerolíneas nationalisation

Fri May 31, 2019 9:11 pm

mercure1 wrote:
Hopefully this is the end for this long case and Argentina pays up.



Argentina must pay US$320 million in damages after the International Centre for Settlement of Investment Disputes (CIADI) ruled against the an appeal to earlier ruling ordering Argentina pay Spanish Grupo Marsans damages after the Cristina Fernández de Kirchner administration nationalised the airline in 2008, paying a symbolic one peso (30 US cents).

https://www.batimes.com.ar/news/argenti ... ourt.phtml


I thought 1 peso was only worth USD $0.02, not $0.30?
John Wang, Founder and President of Inland Streamliner.
 
MalevTU134
Posts: 2053
Joined: Tue Oct 11, 2016 8:04 pm

Re: Argentina pay US$320m damages over Aerolíneas nationalisation

Fri May 31, 2019 9:48 pm

Swadian wrote:
mercure1 wrote:
Hopefully this is the end for this long case and Argentina pays up.



Argentina must pay US$320 million in damages after the International Centre for Settlement of Investment Disputes (CIADI) ruled against the an appeal to earlier ruling ordering Argentina pay Spanish Grupo Marsans damages after the Cristina Fernández de Kirchner administration nationalised the airline in 2008, paying a symbolic one peso (30 US cents).

https://www.batimes.com.ar/news/argenti ... ourt.phtml


I thought 1 peso was only worth USD $0.02, not $0.30?

This was back in 2008... But, you are correct, today it would be 2 cents.
 
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LAXintl
Posts: 23547
Joined: Wed May 24, 2000 12:12 pm

Re: Argentina pay US$320m damages over Aerolíneas nationalisation

Sun Jun 02, 2019 5:32 am

Expropriation is a dirty thing, and good the Argentine government must pay something for damages.
From the desert to the sea, to all of Southern California
 
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UPlog
Posts: 308
Joined: Sat Jan 27, 2018 5:45 am

Re: Argentina pay US$320m damages over Aerolíneas nationalisation

Sun Jun 02, 2019 2:28 pm

Sad part is todays liberal pro business friendly government must pay the penalty for deeds committed by previous regime.

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