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August 27, 2014
Wednesday, March 5, 2014

US Gov’t backs Argentina in ‘Vulture Funds’ dispute

United States Supreme Court.
The Obama administration filed an ‘Amicus Curiae’ measure before US Supreme Court, supporting Argentina’s position in the dispute with the so called ‘Vulture Funds’.

According to the documents which were filed on Monday but published today, the US government argues a “substantial interest in the correct interpretation and application,” of the Foreign Sovereign Immunities Act, or FSIA act.

In addition, they considered that the inferior courts “rejected the US stand as a friend of the tribunal,” and that the “debt restructuration is the proper way to overcome the sovereignty debt problem.”

This is the second judicial measure filed by the US government as part of the “Discovery Mundial” case.

It is also the second time that the document carries the signature of US General Attorney, Donald Verrilli Jr., who in December 2013 supported Argentina’s position, and defined New York’s Court decision as “incorrect,” after the tribunal backed the petition presented by NML Capital investment fund, owned by the financial tycoon Paul Singer.

In this opportunity, the Amicus Curiae explained that if US Courts “allow more examinations of the assets owned by a foreign country, it could hurt the intentions of the FISA act, and have a number of adverse consequences,” for the United States.

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Tags:  Argentina  Vulture Funds  Paul Singer  Debt swap  





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