Promote Your Attorney Profile on Law.net - Get Found / Earn More!
Microsoft Sues IRS for Information on Contract with Quinn Emanuel
Microsoft Sues IRS for Information on Contract with Quinn Emanuel
Class Action Lawsuit Accuses Sephora of Discrimination
Class Action Lawsuit Accuses Sephora of Discrimination
Apple to Pay 20 Million for Patent Infringement
Apple to Pay 20 Million for Patent Infringement
Battle Over Bratz Dolls to Continue in Court
Battle Over Bratz Dolls to Continue in Court
Legal Job Listings

Bondholders Receive Longer Oral Argument Time in Argentina Case

In an order issued Monday, the 2nd U.S. Circuit Court of Appeals announced that it had set aside added time for oral arguments on February 27 in the case involving Argentina paying $1.33 billion to bondholders who were not part of debt restructurings. The time allotted is just 49 minutes, an increase of 19 minutes from the original 30, according to Reuters.

An order issued in November by U.S. District Judge Thomas Griesa in Manhattan said that Argentina had to pay $1.33 billion into escrow for ‘holdout’ investors when it was paying bondholders who took part in debt restructurings.

Argentina is asking for this ruling to be reversed. The ruling from Griesa followed a ruling in October in the 2nd Circuit that said Argentina had to pay all of its bondholders the same amount, instead of showing priority to holders of restructured debt.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




The court order has allotted time for a lawyer from the debt exchanges after Argentina’s $100 billion sovereign default in 2001 and a lawyer for Bank of New York Mellon Corp, which was the trustee for bondholders in the 2005 and 2010 exchanges.

The holdouts in the case include Elliott Management Corp affiliate NML Capital Ltd and Aurelius Capital Management. Argentina is being represented by Jonathan Blackman from Cleary Gottlieb Steen & Hamilton. BNY Mellon is represented by James Martin from Reed Smith.

Bondholders Receive Longer Oral Argument Time in Argentina Case by

Tagged: , ,

Posted by on February 13, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Litigation Associate with 1-3 years of IP Litigation experience
USA-MA-Boston

Seeking a litigation associate with 1-3 years of IP litigation experience, strong academic credentials, and exceptional analytic skills and writing ability. In addition, a passion for patents, tradema...

Related Posts: