Law360, New York (February 17, 2015, 10:10 AM EST) -- The impact of Argentina's prolonged dispute with the holdouts of its defaulted debt continues to reverberate in the context of foreign sovereign debt restructuring. What has been called the "trial of the century" because of its potential impact on sovereign debt issuances — a clash between the U.S. courts and a foreign sovereign — began in 2001 with Argentina's default. Although Argentina eventually restructured more than 90 percent of its $80 billion in defaulted bonds (through steep haircuts on payments totaling up to 70 percent of some bonds' face value), certain creditors refused to accept the terms of repayment, igniting a long-running dispute in the U.S. District Court for the Southern District of New York....