United States Second Circuit

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EM Ltd. v. Banco Central de la Republica Argentina, 13-3819

In an appeal concerning plaintiffs' ongoing efforts to satisfy their judgments against Argentina by attaching funds held by Argentina's central banking authority, the district court's denial of defendant's motion to dismiss for lack of jurisdiction is reversed and remanded where neither the FAA's express waiver of sovereign immunity, 28 U.S.C. section 1605(a)(1), nor defendant's use of its account with the Federal Reserve Bank of New York as a "commercial activity" in the U.S., section 1605(a)(2), applies as a statutory exemption to waive sovereign immunity.

Appellate Information

  • Decided 08/31/2015
  • Published 08/31/2015


  • Cabranes


  • United States Second Circuit