NML Capital, Ltd. v. Republic of Argentina
Court of Appeals for the Second Circuit
1Opinion of the Court
BARRINGTON D. PARKER, Circuit Judge:
This is a contract case in which the Republic of Argentina refuses to pay certain holders of sovereign bonds issued under a 1994 Fiscal Agency Agreement (hereinafter, the “FAA” and the “FAA Bonds”). In order to enhance the marketability of the bonds, Argentina made a series of promises to the purchasers. Argentina promised periodic interest payments. Argentina promised that the bonds would be governed by New York law. Argentina promised that, in the event of default, unpaid, interest and principal would become due,in full. Argentina promised that any…
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