Don’t Cry for Me Argentine Bondholders: Argentina Responds to the Second Circuit’s Inquiry

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.