Henry Weisburg, Antonia E. Stolper, Stephen J. Marzen, Patrick Clancy
Further
analysis of the NML v. Argentina case.
View full memo, "Don’t Cry for Me Argentine Bondholders: Second Circuit Requests a Payment Proposal"
As we reported in our February 28 note, the three - judge panel of the Second Circuit expressed interest in whether an alternative Ratable Payment formula might be appropriate – one that would provide for equitable payments to the plaintiffs over time but would not amount to a 100% one time payment. At the oral argument, payment proposals made by counsel for both Argentina and the Exchange Bondholders were vague. Following up on those proposals, the panel today ordered Argentina’s counsel to state “in writing” “the precise terms” of any “alternative payment formula and schedule to which it is prepared to commit.” ...Location