United States Second Circuit

In a contract case in which Argentina refuses to pay certain holders of sovereign bonds issued under a 1994 Fiscal Agency Agreement, the district court did not abuse its discretion in issuing amended orders that explain certain aspects of those orders, which were designed to remedy Argentina's breach of a promise to pay bondholders after a 2001 default on its sovereign debt, where: 1) the district court's decision does no more than hold Argentina to its contractual obligation of equal treatment; 2) the amended injunctions have no inequitable effect on Exchange Bondholders; and 3) Argentina's arguments regarding alleged injuries to participants in the Exchange Bond Payment System and the public interest have no merit.

Appellate Information

• Decided 08/23/2013
• Published 08/23/2013

Judges

• PARKER

Court

• United States Second Circuit

Counsel