Argentina isn't having any luck at all in the U.S. courts of late. On June 17th, the Supreme Court upheld a discovery order, that will make life easier for holdout bondholder NML as it searches the world for attachable Argentine assets. The money quote is as follows: “The prospect that NML’s general request for information about Argentina’s worldwide assets may turn up information about property that Argentina regards as immune does not mean that NML cannot pursue discovery of it.” Meanwhile, the court denied review of two other cases that went to the issue of interpreting the language of the issuing documents, the pari passu clause. Here is coverage from the fine folks at SCOTUSblog . The gist of it is that the New York district court, which has been working very hard to make it impossible for Argentina to distribute money with any assistance from US based financial institutions unless the holdout creditors share in those disbursements, has gotten its way. ...
