Argentina: SCOTUS didn’t take the case . . . yet

Not surprisingly, the Supreme Court of the United States is not adding Republic of Argentina v. NML Capital Ltd., the defaulted bonds case, to their current docket:
Supreme Court Takes No Action on Argentina Bond Case
Appeal Isn’t Added to Docket; Justices Could Still Take Up Case Later

If the high court follows past practices, the justices may ask the U.S. Solicitor General to submit a brief expressing the Obama administration’s views on whether the court should hear the case. That process could take months. The Supreme Court has taken that approach in past cases stemming from Argentina’s economic crisis.

The court also could choose to reject Argentina’s appeal, especially because parts of the case are still pending in a New York federal appeals court. Argentina would be able to file a new petition to the Supreme Court when that case is finalized in the lower court.

In related litigation, the appeals court in New York. In August issued another ruling, upholding a lower court’s order that Argentina pay $1.33 billion to the holdouts. The court stayed its decision pending Supreme Court review. Argentina also has asked the appeals court to reconsider its decision.

Bottom line: anyone invisting on Argentinian bonds at this point may be credulous enough to buy into the Nicaraguan Canal.


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