World Bank orders Argentina to pay US$320m over seized airline
The World Bank's arbitration tribunal has ordered Argentina to pay US$320m plus interest and legal fees to Spanish travel group Marsans for expropriating its airline Aerolineas Argentinas in 2008, a local newspaper reported Saturday. The International Centre for Settlement of Investment Disputes (ICSID) ruled against Argentina for "illegally expropriating the investments" of Marsans, the tribunal was quoted as saying. ICSID and a spokesperson for the office of Argentine president Mauricio Macri did not immediately respond to requests for comment. Argentina's former president Cristina Fernandez ordered the state seizure of the airline in 2008, alleging mismanagement. It has remained under state control since then. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-07-24/sky/world-bank-orders-argentina-to-pay-us-320m-over-seized-airline
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World Bank orders Argentina to pay US$320m over seized airline
The World Bank's arbitration tribunal has ordered Argentina to pay US$320m plus interest and legal fees to Spanish travel group Marsans for expropriating its airline Aerolineas Argentinas in 2008, a local newspaper reported Saturday. The International Centre for Settlement of Investment Disputes (ICSID) ruled against Argentina for "illegally expropriating the investments" of Marsans, the tribunal was quoted as saying. ICSID and a spokesperson for the office of Argentine president Mauricio Macri did not immediately respond to requests for comment. Argentina's former president Cristina Fernandez ordered the state seizure of the airline in 2008, alleging mismanagement. It has remained under state control since then. <br/>
