United States Second Circuit

In defendant Republic of Argentina's appeal from the district court's orders of attachment and execution entered in late 2008 over Argentine social security funds, the order is reversed where: 1) nonparty Argentine social security administration was clearly affected by the order and thus had standing to appeal; and 2) the funds were not subject to attachment because they were not being used for a commercial activity in the United States as of the effective date of the Argentine legislation transferring the funds to the control of the administration.

Appellate Information

• Decided 10/15/2009
• Published 10/15/2009

Judges

• J. CLIFFORD WALLACE, Senior Circuit Judge:, Before WALKER and WALLACE, Circuit Judges.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Marco E. Schnabl, Skadden, Arps, Slate, Meagher & Flom LLP (Lauren E. Aguiar, Timothy G. Nelson, and Sarah E. McCallum, on the brief), New York, NY, for Non-Party Appellant Administración Nacional de Seguridad Social.


• For Appellees:
  
• Jonathan I. Blackman, Cleary Gottlieb Steen & Hamilton LLP (Carmine D. Boccuzzi, Christopher P. Moore, Rahul Muhki, Benjamine J.A. Sauter, and Michael J. Byars, on the brief), New York, NY, for Defendant-Appellee-Cross-Appellant Republic of Argentina., Barry R. Ostrager, Simpson, Thacher & Bartlett LLP (Tyler B. Robinson and David Elbaum, on the brief), New York, NY, for Plaintiffs-Appellees Aurelius Capital Partners, LP, Aurelius Capital Master, Ltd. and Blue Angel Capital I LLC., David Dunn, Hogan & Hartson LLP, New York, NY, for Plaintiffs-Appellees GMO Emerging Country Debt L.P., GMO Emerging Country Debt Investment Fund PLC, GMO Emerging Country Debt Fund, and Teachers Insurance and Annuity Association of America., Theodore B. Olson, Gibson, Dunn & Crutcher LLP (Matthew D. McGill and Jason J. Mendro, Gibson, Dunn & Crutcher LLP, Robert A. Cohen and Dennis H. Hranitzky, Dechert LLP, and David W. Rivkin, John B. Missing, and Suzanne M. Grosso, Debevoise & Plimpton LLP, on the brief), New York, NY, for Plaintiffs-Appellees NML Capital, Ltd. and EM Ltd.