Legal Opinion
Elliott Associates, L.P. v. Republic of Panama
District Court, S.D. New York
Decided September 10, 1997No. 96 Civ. 5514(DC)PublishedCited by 5 opinions
1Opinion of the Court
OPINION
CHIN, District Judge.
In the 1980’s, a number of countries— including the defendant Republic of Panama (“Panama”) — encountered serious difficulties in servicing their foreign debt. As a consequence, and because of growing concern over the continued stability of the international financial system, United States Treasury Secretary Nicholas Brady announced a plan (the “Brady Plan”) in 1989 encouraging bank creditors to reduce the debt obligations of lesser developed countries by restructuring old debt and providing new loans.
Panama took advantage of the Brady Plan and restructured much of…
2Cases cited22 opinions
- Metromedia Co. v. FugazyCourt of Appeals for the Second Circuit · 1992
- Wegman v. Dairylea Cooperative, Inc.Appellate Division of the Supreme Court of the State of New York · 1975
- Phyllis MELOFF, Plaintiff-Appellant, v. NEW YORK LIFE INSURANCE COMPANY, Defendant-AppelleeCourt of Appeals for the Second Circuit · 1995
- In Re Abraham Sokol, Debtor. The State of New York, Plaintiff-Appellant-Cross-Appellee v. Abraham Sokol, Defendant-Appellee-Cross-AppellantCourt of Appeals for the Second Circuit · 1997
- Pravin Banker Associates, Ltd. v. Banco Popular Del Peru and the Republic of PeruCourt of Appeals for the Second Circuit · 1997
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3Cited by5 opinions
- Walker v. VaughanDistrict Court, S.D. New York · 2002
- Granite Partners, L.P. v. Bear, Stearns & Co.District Court, S.D. New York · 1999
- Semi-Tech Litigation, LLC v. Bankers Trust Co.District Court, S.D. New York · 2003
- Flash Electronics, Inc. v. Universal Music & Video Distribution Corp.District Court, E.D. New York · 2004
- Elliott Associates, L.P. v. Republic of PeruDistrict Court, S.D. New York · 1998