The Court of the District of Columbia, United States, made firm this Tuesday the judgment that recognized a ruling by the International Center for Settlement of Investment Disputes (ICSID) for the expropriation of Aerolíneas Argentinas, for which the country must pay US$390.9 million to the Titan Consortium fund.
He failed establishes that “the arbitral award issued on July 21, 2017 in ICSID Case No. ARB/09/1 be executed in the same manner as if it were a final judgment of a court of general jurisdiction.”
The case originates from the nationalization of Aerolíneas Argentinas in 2008. After some back and forth, in 2017 in Washington, United States, the ICSID sentenced the country to pay for the expropriation, a ruling that it did not comply with.
In 2021the investment fund Titanwhich had then already purchased the rights to the lawsuit, went to the Columbia courts. The Argentine State attempted to dismiss the lawsuit with the argument that the claim was “extemporaneous” because more than three years had passed, the time for statute of limitations.
The Columbia ruling came a day after the Buenos Aires governor will present this Monday a plan to avoid privatization of Argentine Airlines. “It is a central instrument for development, connectivity. It is not that nobody wants airlines, the Province if he wants it,” he said.
The president’s proposal was buy shares of the company and will call on other provinces to participate in the package of titles of the flag line, in case the government of the Nation “I want to liquidate it.”
“The province proposes that if there is an intention to transfer, we will begin a path with governors and workers: we will also work with the airline and tourism sector because we believe it is one of the best in the world,” he stated. Kicillof at a press conference, two days before a new anniversary of the company, founded on December 7, 1950.
“The national government has threatened to sell it, dissolve it, bankrupt it. If the Nation proposes selling a share package or transferring it to workers or declaring it bankrupt or dissolving it, we will prevent it, to the extent possible.“said the Buenos Aires president.
“Given the impossibility of the national government to manage anything, we want it to stop lying. We cannot afford to have it liquidate, sell or mis-sell to Airlines. If the Government plans to liquidate it, it should know that the provincial government will support it. Airlines It is not sold: there are 21 inland destinations to which only the flag line travels. Destinations that are called unprofitable,” he noted.
“They want to close flights. We are on the verge of a scam,” he stressed. “Today we are waiting but preparing for a decision: the province of Buenos Aires begins to explore all avenues to provide a response. We are not in a position for the Government to destroy Aerolíneas. We cannot go through a vacuum or a scam. We are going to prevent the disaster. The province has different paths, some need the Legislature,” he emphasized.
Source: Ambito
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