Justices Demur In Argentina Investors' $100M Clawback Suit

Law360, New York (June 25, 2012, 4:39 PM EDT) -- Investors trying to claw back $100 million lost during Argentina's 2001 bond default saw their fortunes dim greatly Monday as the U.S. Supreme Court declined to review a lower court's finding that the South American nation is immune to their lawsuit.

The high court’s refusal left intact a Second Circuit ruling that the Foreign Sovereign Immunities Act shields the government of Argentina from turning over funds held in its central bank's accounts at the Federal Reserve Bank of New York.

“We are gratified that the Supreme...
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