1st. Circ. Nixes $7B Claim Over German Bonds

Law360, Los Angeles (October 30, 2013, 7:28 PM EDT) -- The First Circuit on Wednesday rejected a bondholder’s claim seeking to be paid for some $7 billion worth of agricultural bonds from the German government on the grounds the bonds hadn’t been validated according to an international treaty.

The appellate panel wrote Wednesday that Ronnie Fulwood and Mortimer Offshore Ltd., who hold Agra bonds that were issued in 1928, didn’t effectively argue that the German government and the successor banks to the banks that had issued the bonds nearly a century ago were responsible for payment...
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