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Argentina Attachment Reversed
In an October 15, 2009 decision, the United States Court of Appeals for the Second Circuit reversed the order of attachment against the Republic of Argentina in Aurelius Capital Partners v. The Republic of Argentina, docket number 08-5621. Justice Sotomayor belonged to the panel before her call to the United States Supreme Court and did not participate in the decision. The court summarizes the matter as follows:
The Republic of Argentina appeals from the district court's orders of attachment and execution entered in late 2008 over Argentine social security funds, which under proposed Argentine legislation were to be transferred to the Administración Nacional de Seguridad Social (the Administration), an Argentine governmental entity. The orders were confirmed in the district court's opinion and order dated December 11, 2008, immediately after the legislation transferring the funds to the Administration became effective. We reverse the decision of the district court and vacate the orders.As explained in a 29-page opinion, the court concluded that the funds were immune from attachment under the Foreign Sovereign Immunities Act (Act), 28 U.S.C. §§ 1602-1611 it reversed the decisions of the district court and vacated its order. -- Clemens Kochinke, partner, Berliner, Corcoran & Rowe, LLP, Washington, DC.
Thu, / Embassy Law Link