embargosargentina

A U.S. District Court judge for the District of Columbia, Jia M. Cobb, gave the green light for the Belgian fund Titan Consortium to seek asset seizures and enforcement measures against assets of the Argentine State. The objective is to collect million-dollar compensation stemming from the expropriation of Aerolíneas Argentinas and Austral, carried out in January 2009 during the administration of Cristina Fernández.
The figure already has a number: $390.9 million, confirmed by the U.S. Court of Appeals for the D.C. Circuit on July 21. The September 25 order does not establish an automatic seizure, but it allows the fund to request one under U.S. law. For any regional economy, the message is uncomfortable: arbitral awards do not expire as quickly as some governments would like, and someone will end up looking for those assets wherever they may be.