Bondholders Deemed To Lack Standing To Sue Argentina Over Unpaid Principle

Mealey's (May 8, 2023, 2:20 PM EDT) -- NEW YORK — A federal district court did not err in ruling that bondholders were unable to bring a lawsuit under Argentine law seeking damages for unpaid principle on their bonds, which were enrolled in an Argentine tax credit program, because enforcement rights had not been delegated to them and because Federal Rule of Civil Procedure 17 did not provide an “alternative avenue” for the bondholders to bring their claims in federal court, a Second Circuit U.S. Court of Appeals panel ruled in affirming....