Freshfields Fails to Convince DC Circuit to Uphold $185 Million Arbitration Award Against Argentina

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On Tuesday a unanimous federal appellate panel threw out a $185 million arbitration award that global energy company BG Group Plc won against the government of Argentina five years ago. BG Group, which was represented by Freshfields, claimed that Argentina's freeze on natural gas prices during its economic crisis of the early 2000s triggered the bankruptcy of Metrogas SA, an Argentine gas distributor in which BG Group owned a controlling stake.

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