Judge Releases $2.2B In Argentine Assets In Default Case

Law360, New York (March 28, 2012, 10:31 PM EDT) -- A New York federal judge on Wednesday lifted an order restraining $2.2 billion of Argentina's assets in the U.S. for investors seeking to recoup losses in the country's massive 2001 bond default.

U.S. District Judge Thomas P. Griesa vacated his previous order, issued last August, that froze Argentina's assets held in Citibank NA and Banco Central de la Republica Argentina's accounts at the Federal Reserve Bank of New York.

The judge found that the money in those accounts was controlled by the country's central bank, and...
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