BG Wins as Court Restores $185 Million Argentina Award
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The U.S. Supreme Court reinstated a $185 million award won by BG Group Plc, a U.K. oil and gas company, in a dispute with Argentina over that country’s 2002 cap on natural gas prices.
The high court, voting 7-2, today said a federal appeals court was wrong to throw out an arbitration award in BG’s favor. The appeals court had said that under an Argentine-U.K. treaty the three-member arbitration panel in Washington lacked power to take up the dispute.