Creditor Wins Restraining Order On Argentina Assets

Law360, New York (August 11, 2011, 9:58 PM EDT) -- A New York federal judge granted EM Ltd., a creditor of Argentina, a restraining order in its efforts to collect on an $801.4 million judgment resulting from the country's 2001 bond default, according to a court filing made public Thursday.

U.S. District Court Judge Thomas P. Griesa on Tuesday granted the restraining order targeted at Argentina's assets that may be at Citibank NA or in its central bank's Federal Reserve Bank of New York accounts.

In 2003, EM won a $725 million judgment against Argentina, which...
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