A ´new´ consolidated and integrated Argentine Civil and Commercial Code has been enacted on October 7, 2014 and came into effect on August 1, 2015 (the “New CCC”), which replaced both the Civil Code (originally enacted on September 29, 1869) (the “Civil Code”) and the Commercial Code (originally enacted on September 10, 1862). The Argentine Bankruptcy Law No.

BACKGROUND On Friday 13 February 2015 the Chancery Division of the English High Court handed down a judgment in proceedings brought by holders of euro-denominated Exchange Bonds against the trustee under those bonds, BNY Mellon, and its English subsidiary: to view the judgement please click here.

The continuing saga between the Republic of Argentina and a hold out group of investors led by NML Capital, an affiliate of Elliott Management in New York, in relation to sovereign bonds issued by Argentina is a fascinating display of what can happen when a well-funded creditor is dissatisfied with the settlement offered by a distressed debtor.

Global—On 16 June 2014, despite the Republic of Argentina's warning that it may once again be forced to default on its sovereign debt, the US Supreme Court denied Argentina's petition seeking review of lower court rulings that: (i) construed pari passu, or equal footing, clauses of a bond indenture to prohibit Argentina from making payments to bondholders who participated in 2005 and 2010 debt restructurings before it pays US$1.4 billion to holdout bondholders (see NML Capital, Ltd. v. Republic of Argentina, 699 F.3d 246 (2d Cir.

Argentina has now staked the future of its debt, and perhaps its financial fate, with the United States Supreme Court. Yes, you read that right. Argentina wants the nine justices to weigh in on a case involving its obligations to holders of its government bonds and to resolve the mess created by a handful of federal judges, The New York Times DealBook blog reported. The roots of the case go back to 2001, when Argentina, in the midst of a severe economic downturn, defaulted on $80 billion of government bonds.

LATIN AMERICA UPDATE: Argentina Bondholders Are 2-0 Enforcing Their Contractual Rights (citation: Richard J. Corbi and Oscar N. Pinkas, Argentina Bondholders Are 2-0 Enforcing Their Contractual Rights, XXXIII ABI Journal 1, 26-27, 60, January 2014) - Richard J. Corbi and Oscar N. Pinkas

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.

In responding to the Second Circuit’s March 1 inquiry as to how Argentina planned to “make current” the “original bonds” held by the plaintiffs, Argentina has once again made it clear that it will not treat the plaintiffs any more favorably than the Exchange Bondholders, no matter what the judicial consequences may be. Further, many of the points that Argentina advances in its reply to the Court’s inquiry have, in our view, already been rejected by the Second Circuit.

21/4/2012: Having felt adrift ever since Venezuela’s Hugo Chávez fell ill last year, Latin America’s populists suddenly have a new champion. Cristina Fernández, Argentina’s president, has long been a chavista-lite, harassing private business, rigging national statistics and gutting state institutions. Of late she has shifted further in Mr Chávez’s direction, raiding central-bank reserves, imposing currency controls and raising trade barriers. Her most brazen move yet came this week with the nationalisation of 51% of YPF, the former state oil company, belonging to Spain’s Repsol.