In 2001, Argentina defaulted on $80 billion of government bonds. When issuing the bonds in the early 1990s, Argentina expressly waived sovereign immunity, in order to get higher value for the bonds it issued. Now, Argentina is asking the U.S. Supreme Court to throw out a ruling by the Second Circuit Court of Appeals requiring disclosure of information about the country’s assets. What are the extent of the plaintiff’s rights to discovery of Argentina’s assets? Does the answer depend on the location, use, or character of the assets? The Supreme Court heard oral arguments in Republic of Argentina v. NML Capital on Monday, April 21, 2014. Our expert offered his impression of the arguments and answered questions from a call-in audience.
- Prof. Michael D. Ramsey, Hugh and Hazel Darling Foundation Professor of Law, Director, International & Comparative Law Programs, University of San Diego School of Law