Don’t Cry for Me Argentine Bondholders: The Second Circuit Rules

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On August 23, the Second Circuit issued its long-awaited opinion on Argentina’s appeal from the Southern District’s amended injunction requiring that Argentina make “ratable payment” to the plaintiffs when it next makes payment to holders of its Exchange Bonds. Argentina lost comprehensively, in a carefully written and unanimous decision that is highly critical of Argentina’s treatment of its creditors, and is quite clearly designed to minimize Argentina’s prospects for a successful petition for certiorari to the Supreme Court.

On August 23, the Second Circuit issued its long awaited opinion on Argentina’s appeal from the Southern District’s amended injunction requiring that Argentina make “ratable payment” to the plaintiffs when it next makes payment to holders of its Exchange Bonds. Argentina lost comprehensively, in a carefully written and unanimous decision that is highly critical of Argentina’s treatment of its creditors, and is quite clearly designed to minimize Argentina’s prospects for a successful petition for certiorari to the Supreme Court.

Please see full memo below for more information.

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Topics:  Bonds, Certiorari, Creditors, SCOTUS

Published In: Bankruptcy Updates, Civil Procedure Updates, Civil Remedies Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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