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Category Archives: Foreign Sovereign Immunities Act

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Argentina Files Petition to the U.S. Supreme Court

Posted in Argentina, Foreign Sovereign Immunities Act, SCOTUS, Second Circuit, Sovereign Debt
On February 18, 2014, Argentina filed a petition asking the United States Supreme Court to review the Second Circuit’s decision affirming the District Court’s decision requiring Argentina to pay a group of holdout bondholders (called “vulture funds” by Argentina’s counsel) 100% of the monies owed to them.  As we discussed here, here, and here, the… Continue Reading

Supreme Court Refuses to Hear Argentina’s Appeal

Posted in 28 USC section 1602 et seq., Argentina, Chapter 11, Foreign Sovereign Immunities Act, SCOTUS, Sovereign Debt
On October 7, 2013, the Supreme Court issued an order denying Argentina’s petition for a writ of certiorari on the interim decision of the Second Circuit that Argentina violated the contractual provision that all bondholders must be treated equally (discussed here and here). The Supreme Court’s decision comes on the heels of an October 3,… Continue Reading

UPDATED: Crying for Argentina: Hedge Funds Initiate Litigation To Collect On Sovereign Debt

Posted in 28 USC section 1602 et seq., Argentina, Foreign Sovereign Immunities Act, Second Circuit, Sovereign Debt
On August 23, 2013, the Second Circuit affirmed  the District Court’s decision, which held that Argentina must pay a group of holdout bondholders 100% of monies owed to them.  As we outlined in June, the long-running litigation dates to Argentina’s 2001 default on $100 billion of sovereign debt. Earlier this week, the U.S. Supreme Court… Continue Reading