This dispute traces back to 2009 involving Marsans affiliates suing over expropriated stakes in two airlines. The tribunal found confiscating the shares contravened investment protections granted by Spain, awarding $320 million plus fees to the claimants. Argentina paid symbolic recompense of a lone peso when seizing control, propelling the arbitration determination.
Despite the tribunal’s decision, Argentina failed to satisfy the award, driving Titan to pursue legal enforcement in American courts.
Representing Titan is Gibson Dunn & Crutcher’s Matthew D. McGill and Matthew S. Rozen. Argentina retains Cleary Gottlieb Steen & Hamilton’s Carmine D. Boccuzzi Jr. and Rathna J. Ramamurthi.
The case Titan Consortium 1 LLC v. Argentine Republic is docketed as number 1:21-cv-02250 in the U.S. District Court for the District of Columbia.
