Addressing issues of first impression, the Second Circuit held yesterday that funds of the Banco Central de la Republica Argentina "held for its own account" at the Federal Reserve Bank of New York cannot be attached because of foreign state immunity under 28 U.S.C. §1611(b)(1). The decision, in litigation over recovery for losses following the massive default of Argentine bonds in 2001, reverses that of Southern District Judge Thomas P. Griesa.
July 06, 2011 at 12:00 AM
1 minute read
The original version of this story was published on New York Law Journal
Funds of the Banco Central de la Republica Argentina held at the Federal Reserve Bank of New York are immune from attachment and execution under the Foreign Sovereign Immunities Act, the U.S. Court of Appeals for the Second Circuit ruled yesterday.
Addressing issues of first impression, the circuit held that Argentine central bank property “held for its own account” cannot be attached because of foreign state immunity under 28 U.S.C. §1611(b)(1).
Presented by BigVoodoo
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Consulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
