The Chicken Littles are out in force. The U.S. Court of Appeals for the Second Circuit's ruling in NML v. Argentina has caused an outcry. Some have suggested that the decision will impede efforts to restructure sovereign debt in Europe and elsewhere. Others argue it unfairly violates sovereign immunity, or wrongly implicates third parties to the dispute. Let's put aside the hyperbole and look at the facts.
Argentina and the courts: The sky will not fall
The National Law Journal
January 23, 2013
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