World Bank To Hear $1B Suit Over Argentine Default

Law360, New York (August 10, 2011, 9:21 PM EDT) -- Attorneys representing Italian bondholders holding more than $1 billion in claims related to defaulted Argentine debt announced Wednesday that an investment dispute tribunal at the World Bank had agreed to hear their case.

White & Case LLP said that the World Bank's International Centre for Settlement of Investment Disputes ruled Aug. 4 that it had jurisdiction over the Italian bondholder's claims under the Argentina-Italy bilateral investment treaty made in connection with Argentina's issuance of bonds and debt restructuring.

“This is a victory for tens of thousands...
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