Argentina Debt: European Injunctions v New York Injunctions

The International Game of Injunctions

Lawyers for holders of Argentine bonds issued in Euros sent a letter to the NY Court of Appeals letting said court know that they had filed a petition before Belgian courts to ask for a "European injunction" against the possible "NY injunction" that may be issued by judge Thomas Griesa with respect to the flow of payments of those bonds. The purpose of the petition is to protect Bank of New York Brussels and Euroclear, from where the money goes through.

The Belgian court rejected such petition on the ground that said petition was "premature" as there is enough time, according to the court, to analyze the "merits" of the case.

A new hearing was scheduled for September, where the Belgian court will discuss the "merits" of the petition.

Eugenio A Bruno
Garrido Law Firm
eab@garridolawfirm.com