Saturday, March 2, 2013

ARGENTINA BONDS

Last week there was a significant but not widely publicized hearing about the Argentina Bonds case. The hearing took place in the appeals court on the 17th floor of the newly renovated  Manhattan Federal Courthouse.
This is the same courthouse where the Cannibal Cop trial is taking place; that story has garnered much of the US media interest.
This case is so specific to business news,when I mentioned the Argentina Bonds hearing, people thought I was talking about a person not a country.  Indeed I made that mistake when I was first assigned.  However, the case was so closely watched in Argentina, there were quite a few reporters from Argentina covering the case and their vice president and finance minister were in the courtroom. The legal arguments sounded complex and  I could tell the court was grappling with the legal issues.  Especially Judge Raggi ( far right) was asking very pointed and concise questions of both sides,. The courts ruling was made on Friday.
Here is a story about the case and the appellate hearing
Bloomberg Bob Vanvoris story about the hearing

A story about the ruling in the case from the 2nd Circuit
Argentina Bond Hearing and ruling

Below are the illustrations from the case:

David Boies lawyer for the Exchange Bondholder Group, argues in front of the 2nd Circuit
 while Argentina VP Amado Boudou and Finance Minister Hernan Lorenzino seated far left
by Elizabeth Williams

Lawyer representing Argentina,  Jonathan Blackman makes argument to the panel of judges
while the Argentina VP and Finance Minister seated far left.

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