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Argentina to Judge Griesa: Drop Dead. Judge To Argentina: Pay Up—Now
A few weeks ago, I reviewed the Second Circuit’s decision affirming Judge Griesa’s injunction in the NML Capital case requiring Argentina to pay its original bondholders pari passu whenever it makes payments to holder of the reorganized debt Argentina persuaded many of its creditors to accept. The Second Circuit remanded for consideration of which third……
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Lago Agrio: Chevron Accuses DiNapoli
I am posting tomorrow’s post today, so there will be no post tomorrow, or on Friday. We’ll be back on Monday! I’m reporting on two developments in the Lago Agrio case today. First, according to La Nacion, Chevron is projecting that its subsidiaries in Argentina would have to cease operations by the end of the……
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Argentina Takes the Liberdad Case to the ITLOS
As I briefly noted a few weeks ago, a Ghanaian court, on the motion of NML Capital, arrested an Argentine naval vessel, the ARA Liberdad, while it was in port. NML, of course, is one of Argentina’s creditors on its sovereign debt. A coup for NML and its lawyers, and highly embarrassing for Argentina. I……
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Lago Agrio: Argentine Court Freezes Chevron Assets
According to the Lago Agrio plaintiffs, a judge of the Commercial Court of Justice in Buenos Aires has issued an order freezing most of Chevron’s assets in Argentina pending the outcome of the action for recognition and enforcement of the Ecuadoran judgment. Again according to the plaintiffs, these assets include a stake in a pipeline……
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Breaking: Lago Agrio Plaintiffs to Seek Recognition and Enforcement in Argentina
Reuters is reporting that the Lago Agrio plaintiffs plan to seek recognition and enforcement of their Ecuadoran judgment in an Argentine court. No details as yet—stay tuned! This new action, if it is filed, raises the possibility of Letters Blogatory worlds colliding: I have been covering the Argentina sovereign debt cases as well as the……