For Immediate Release
Hedge Funds Win 2nd Circuit Court Ruling in NML Capital vs. Argentina; Global Poor Lose
Argentine Bonds Surge as Ruling Delayed as U.S. Supreme Court Considers Taking Appeal
WASHINGTON - In the landmark case of NML Capital, LTD v. The Republic of Argentina, the New York based U.S. Circuit Court upheld a previous ruling ordering Argentina to pay $1.33 billion to hold out hedge funds. Argentine bonds soared and antipoverty advocates held their breath as the 2nd Circuit Court delayed the ruling until the U.S. Supreme Court decides if they will take appeals on the case.
Jubilee USA Network is an alliance of more than 80 religious denominations and faith communities, human rights, environmental, labor, and community groups working for the definitive cancellation of crushing debts to fight poverty and injustice in Asia, Africa, and Latin America.