Fifth Circuit Rules on State Responsibility for Government Instrumentalities
The Fifth Circuit recently rendered an important decision relating to international arbitration. The case of Bridas v. Turkmenistan (“Bridas II”) addressed the confirmation of an arbitration award. An Argentine corporation, Bridas, had contracted with a Turkmenistan government entity. The arbitrators rendered a $495 million award against the Turkmenistan government entity as well as against the Government of...