U.S. top court rules against Argentina in arbitration fight
WASHINGTON, March 5
WASHINGTON, March 5 (Reuters) - The U.S. Supreme Court on Wednesday ruled for British company BG Group Plc in its effort to reinstate a $185.3 million arbitration award against Argentina that a U.S. appeals court threw out.
On a 7-2 vote, the court said the federal appeals court in Washington, D.C., did not show sufficient deference to arbitrators in deciding the case. Argentina had said that BG, a natural gas exploration and distribution company, should have sued in Argentina's courts first.
BG said it did not want to sue in Argentina courts first because the government there had restricted access to its courts and sought to punish investors that filed lawsuits.