Freshfields Bruckhaus Deringer has successfully represented BG Group in the first investment treaty arbitration case to be addressed by the Supreme Court of the United States, which today reinstated a $185M award in favor of the UK-based oil and gas company in its long-running dispute with the Republic of Argentina.

In a 7-2 decision, the Court vacated a DC Circuit Court ruling that overturned the award, which was originally issued by a panel of international arbitrators in 2007 and confirmed by a US District Court in 2010. 

BG Group initiated arbitration proceedings in 2003, alleging that Argentina was in violation of the bilateral investment treaty between the United Kingdom and Argentina after it implemented certain regulatory measures during its 2002 economic crisis, which negatively affected BG Group's investment in oil and gas distribution company MetroGas.

The Freshfields team was led by New York arbitration partners Alexander Yanos and Elliot Friedman.  Co-counsel to Freshfields was Tom Goldstein of Goldstein and Russell, P.C.