BNY Asks 2nd Circ. To Let It Take Payments From Argentina

Law360, New York (February 4, 2013, 10:18 PM EST) -- Bank of New York Mellon Corp. told the Second Circuit on Friday it should not be included in injunctions preventing Argentina from making payments to participants in the country's debt restructuring, saying its role as debt trustee does not make it Argentina's “aider and abettor.”

The injunctions imposed by U.S. Judge Thomas Griesa violate BNY Mellon's due-process rights and “disserve the public interests in protecting the constitutional rights of non-parties, preserving the essential role of indenture trustees, and maintaining proper relationships in debtor-creditor law,” the bank...
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