Argentina May Not Have Immunity Against Reinsurance-Related Judgments, D.C. Cir. Rules

WASHINGTON, D.C. — A federal appellate court has ruled that the Republic of Argentina may not be entitled to Foreign Sovereign Immunities Act immunity against an insurer’s efforts to enforce two judgments arising out of reinsurance agreements it entered into with an Argentinian insurer.

In a July 30 opinion, the District of Columbia Circuit Court of Appeals found that the FSIA’s arbitration and waiver exceptions could apply, and it remanded the action to a district court for further analysis and factfinding.

Beginning in 1979, Argentina, through its state-owned insurer Caja Nacional de Ahorro y Seguros, incurred debts under reinsurance contracts …