2nd Circ. Says Creditors Can Use Argentine Fund Assets

Law360, New York (August 4, 2010, 4:54 PM EDT) -- A federal appeals court has shot down the Republic of Argentina's challenge to three orders that allow creditors EM Ltd. and NML Capital Ltd. to collect against interests the country holds in a trust fund as part of their attempt to recover from defaulted bonds the country issued.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York's August 2009 approval of the creditors' request to use some of the country's...
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