The case of the day is MMA Consultants 1, Inc. v. Republic of Peru (2d Cir. 2017). MMA claimed it was the holder of bearer bonds Peru issued in 1875. In 2015, it sent demand letters to the Peruvian embassy seeking payment, but it received no response. It sued for breach of contract. Peru moved to dismiss for want of jurisdiction, arguing that it was immune from suit under the FSIA. The district court agreed, and MMA appealed.