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Argentina to challenge outsider's title to enforce $320 million ICSID award before US Courts

Photo by Juan Pablo Mascanfroni / Unsplash

In proceedings initiated in the District Court for the District of Columbia on 24 August, Titan Consortium LLC wants a $320,760,000 award delivered by an ICSID tribunal on 21 July 2017 enforced against Argentina.

Titan also seeks payment of $3,494,807 in legal costs (related to the ICSID proceedings), a further $1,017,512 in legal costs (related to the annulment proceedings) together with interest on the award sum.

This despite the fact that Titan was an outsider to both the ICSID proceedings and the annulment proceedings, having acquired the award creditors’ interest in them following a series of – at times controversial – successive sales.

Argentina is of course challenging the enforcement proceedings.

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