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Aug 27, 2013

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.

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Authors and Contributors

Henry Weisburg

Partner

International Arbitration

+1 212 848 4193

+1 212 848 4193

New York

Antonia E. Stolper

Partner

Capital Markets

+1 212 848 5009

+1 212 848 5009

New York

Patrick Clancy

Partner

Finance

+44 20 7655 5878

+44 20 7655 5878

London