Argentina Can't Halt Discovery In $1.6B Debt Row: 2nd Circ.

Law360, New York (August 20, 2012, 5:11 PM EDT) -- Argentina can't block a bondholder's efforts to gather information from two banks on the country's international finances as it struggles to force Argentina to pay $1.6 billion it owes after it defaulted on its sovereign debt in 2001, the Second Circuit ruled Monday.

A three-judge panel of the appeals court said that Argentina can't invoke sovereign immunity to shield nonparties Bank of America NA and Banco de la Nacion Argentina from subpoenas sent by NML Capital Ltd., an affiliate of hedge fund manager Elliott Management Corp....
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