Individual Argentina Bondholders Can’t File New BriefBob Van Voris
A group of individual holders of defaulted Argentine bonds can’t file a new brief in a New York case over the repayment of another group of bondholders, a federal appeals court said.
The U.S. Court of Appeals in Manhattan denied the request by a group calling itself the “Duane Morris Individual Plaintiffs,” named after the law firm representing them, to file an additional amicus, or friend-of-the-court brief.
The denial in a one-sentence order today avoids a possible delay in deciding the case, which was argued in February. Both sides submitted additional briefs after the arguments, at the request of the court.
The Duane Morris bondholders, who aren’t parties in the case before the appeals court, asked April 22 for permission to file a brief responding to Argentina’s proposal to force the investors in the appeal to accept an 85 percent discount on their bonds.
The lower court case is NML Capital Ltd. v. Republic of Argentina, 08-cv-06978, U.S. District Court, Southern District of New York (Manhattan). The appeal is NML Capital Ltd. v. Republic of Argentina, 12-00105, U.S. Court of Appeals for the Second Circuit (New York).