LatinNews Daily - 27 July 2026

Argentina: On 21 July a US appeals court ruled against Argentina, rejecting its appeal filed against a prior ruling requiring the country to pay compensation to US-based hedge fund Titan Consortium 1, LLC for the 2008 expropriation of Aerolíneas Argentinas, Argentina’s state-run airline. Argentina’s appeal was over a ruling at the World Bank’s International Centre for Settlement of Investment Disputes (Icsid), which in July 2017 ordered the country to pay approximately US$320m plus interest and costs to Spain’s Grupo Marsans, which owned the airline at the time of the expropriation, with Titan Consortium now owning the rights to collect the debt. In this latest ruling, the total figure now stands at approximately US$390m, plus post-judgment interest. Argentina’s appeal was centred around its insistence that a three-year statute of limitations, present in federal legislation, applies, instead of the 12-year period in the district court code. The 2008 expropriation took place under former president Cristina Fernández (2007-2015), whose administration justified the action based on a report published by Argentina’s planning ministry that the airline was US$832m in debt, and on the verge of failure. In November 2008, a bill was introduced into Argentina’s senate to expropriate the airline, with a parliamentary committee determining that the airline was a public necessity.

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