Argentine Funds Immune From Attachment: 2nd Circ.

Law360, New York (October 15, 2009, 7:11 PM EDT) -- A federal appeals court has overturned a lower court's ruling barring Argentina's government from transferring about $200 million in Argentine pension funds out of the United States, where they are currently held, ruling that the funds are immune from attachment.

The U.S. Court of Appeals for the Second Circuit on Wednesday reversed the district court's judgment and vacated all associated orders, ruling that the lower court abused its discretion in issuing the orders because Argentina had not used the funds for any commercial activity at the...
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