LatinNews Daily Report - 19 January 2012

Argentina: On 18 January Argentina’s minister of planning, Julio de Vido, celebrated the decision by a Washington court of appeals that the lawsuit filed by British Gas (BG) against the Argentine state should be resolved in the local jurisdiction of the Southern Cone nation. The court’s decision reverses a US$240m arbitration award issued in 2007 by the UN Commission on Mercantile Law. BG had sued Argentina for economic damages caused by the government’s decision to freeze the rates charged by local distributor Metrogas. BG owns 54.67% of Gas Argentino (Repsol-YPF owns 45.33%), which controls 70% of Metrogas.

End of preview - This article contains approximately 1001 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial