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    Implications of the Argentina debt litigation for Foreign Sovereign Immunity
    2014-07-30

    Foreign sovereigns have long assumed that the Foreign Sovereign Immunities Act (FSIA) provides them with substantial protection against litigants in United States courts. Although the immunity afforded by the FSIA has never been absolute, two recent developments in the Supreme Court of the United States – both involving the Republic of Argentina – have expanded plaintiffs’ ability to locate sovereign assets and force satisfaction of a judgment, notwithstanding the seemingly broad protections of the FSIA.

    The rulings are important for sovereign investors for a number of reasons:

    Filed under:
    Argentina, USA, Insolvency & Restructuring, Litigation, Public, Ropes & Gray LLP, Injunction, Sovereign immunity, US Department of Justice, Foreign Sovereign Immunities Act 1976 (USA)
    Authors:
    Timothy W. Diggins , Douglas Hallward-Driemeier
    Location:
    Argentina, USA
    Firm:
    Ropes & Gray LLP
    Upcoming Supreme Court Docket Includes Cases to Watch for Commercial Lawyers
    2016-08-31

    The first Monday of each October marks the beginning of a fresh term for the Supreme Court of the United States. As the 2016 term approaches, the court’s docket has already begun to fill with cases that will impact commercial practitioners. While the court will continue to accept additional cases throughout the upcoming term, it has already agreed to hear at least five cases that may have significant implications for commercial lawyers throughout the country.

    Filed under:
    USA, Banking, Company & Commercial, Competition & Antitrust, Insolvency & Restructuring, Litigation, Public, Real Estate, Barnes & Thornburg LLP, Commercial law, Foreign Sovereign Immunities Act 1976 (USA), Sherman Antitrust Act 1890 (USA), Supreme Court of the United States, United States bankruptcy court
    Authors:
    Mark J. Crandley
    Location:
    USA
    Firm:
    Barnes & Thornburg LLP
    Second Circuit adheres strictly to the rules of contract in sovereign debt restructurings
    2012-12-21

    In a measured opinion hewing closely to standard principles of contract interpretation, the United States Court of Appeals for the Second Circuit in NML Capital, Ltd. v. Republic of Argentina, No. 12-105, slip op. (2d Cir. Oct. 26, 2012), rejected the notion that a sovereign may issue bonds governed by New York state law and subject to the jurisdiction of the state’s courts, and then restructure those bonds in a manner that violates New York state law.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Greenberg Traurig LLP, Bond (finance), Default (finance), Foreign Sovereign Immunities Act 1976 (USA), Second Circuit
    Location:
    USA
    Firm:
    Greenberg Traurig LLP
    Second Circuit determines that Argentine central bank is not alter ego of Argentina
    2016-03-11

    Introduction

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Caplin & Drysdale, Chartered, Central bank, Foreign Sovereign Immunities Act 1976 (USA), Second Circuit
    Authors:
    Jeanna Rickards Koski
    Location:
    USA
    Firm:
    Caplin & Drysdale, Chartered
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