But Argentina didn’t pay CMS a penny. And after several months of lobbying Argentina to cut a check, CMS transferred the award–on undisclosed terms–to a Bank of America Corporation subsidiary specializing in distressed debts. (Counsel for Bank of America declined to comment on the matter.)
While Argentina’s peso has rebounded from the lows plumbed earlier this decade, it remains to be seen if the international arbitration awards stemming from the peso collapse are themselves heading for a steep devaluation. Also up for reconsideration is the effectiveness of ICSID, the Washington, D.C.-based arbitration center that handles many investment treaty arbitrations.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
