Argentina’s showdown with bond investors wasn’t the country’s only high-stakes legal battle to wind up at U.S. Supreme Court this year. And thanks to an order on Monday denying cert in Republic of Argentina v. BG Group, the bondholder case won’t go down as the only big high court loss for Argentina and its lawyers at Cleary Gottlieb Steen & Hamilton.
The Supreme Court on Monday shunned the republic’s latest appeal in a decade-long battle with BG Group plc, a British energy company that won a $185 million arbitration ruling against Argentina under a bilateral investment treaty. The order comes just eight months after the justices ruled 7-2 to reinstate the arbitration award.
