Yesterday the Second Circuit granted Argentina’s motion for an emergency stay of Judge Griesa’s injunction. I suspect the court was concerned with the representations Argentina and others had made about the consequences of the injunction for the US payment system, for New York as a financial center, and for the sovereign debt market.
Second Circuit Grants Argentina a Stay
One response to “Second Circuit Grants Argentina a Stay”
[…] Argentina, which had appealed again, sought an emergency stay from the Second Circuit. The court granted its motion. The Second Circuit did, however, order Argentina to put its offer to its creditors in […]