US Backs Argentina In 2nd Circ. $105M Debt Battle

Law360, New York (November 5, 2010, 6:04 PM EDT) -- The U.S. government is backing an attempt by the Argentine government to reverse a district court ruling that froze $105 million in defaulted bonds and other assets the Central Bank of Argentina held in the Federal Reserve Bank of New York, arguing that the central bank’s property deserves immunity.

In an amicus curiae brief lodged Wednesday in the U.S. Court of Appeals for the Second Circuit, U.S. attorneys claimed the lower court’s order flouted the immunity traditionally afforded to foreign central banks and clashed with provisions...
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