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New Case Law in Sovereign Debt Restructuring…in Lego Form

Called the “Trial of the Century” in Sovereign Debt restructuring, it pits Elliott Partners and their CEO Paul Singer versus the Republic of Argentina as well as other Sovereign Debt investors who accepted the terms of the earlier debt restructurings. If the judges current decision withstands appeal it will dramatically change the mechanisms used to forcibly cram down owners of distressed sovereign debt.

NB: As part of the case Elliott seized a tall ship owned by the Argentine Navy.