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December 19, 2014
Wednesday, March 26, 2014

US Supreme Court confirms Brazil, Mexico, France support in vulture fund case

The US Supreme Court has confirmed that Brazil, Mexico and France have officially presented their opinions on an appeal currently being studied in the judicial authorities, which relates to the litigation held against Argentina by the so-called 'Vulture Funds'.

NML Capital, one of the bondholders that refused to enter previous debt restructurings on titles in default since 2001, maintains that the nation must pay the full value of the debt with foreign reserves, which Argentina hold are subject to sovereign immunity.

"Mexico, France and Brazil have presented statements of amicus curiae", Supreme Court spokesman Scott Markley confirmed today to AFP.

A further seven petitions were entered by private organisations and individuals, including Nobel-prize winning economist Joseph Stiglitz.

According to Markley the petitions, which are presentations made by third parties in a trial offering their opinion on the case, should appear in the case file at the latest tomorrow. 

The Mexican government had confirmed yesterday that they would file a petition in support of Argentina's appeal.

In their presentation, the nation signalled that the rulings previously dictated by judge Thomas Griesa "could go against certain principles that order the right of sovereign immunity," and as a result it asks the Supreme Court "to agree to evaluate in greater detail [Griesa's] reasons and motivations."
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Tags:  Vulture funds  Argentina  US  court ruling  





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