Sunday, 24 May 2015
Last updated 2 days ago
Jun 25 2012 | 2:04pm ET
Part of Elliott Associates' battle with Argentina over that country's 2001 debt default came to an end today.
The U.S. Supreme Court refused to hear Elliott's appeal of a lower-court decision ruling that its NML Capital cannot seize $105 million held by the Argentine central bank at the Federal Reserve Bank of New York. The Second Circuit Court of Appeals had overturned a lower-court decision awarding NML and another fund that money, finding that the Banco Central de la Republica Argentina is covered by the U.S. Foreign Sovereign Immunities Act.
The high court's decision allows the lower court decision to stand.
Justice Sonya Sotomayor, who dealt with litigation surrounding Argentina's default when she sat on the Second Circuit, did not participate in the decision.
The Supreme Court rejection does not end Elliott's fight: It has six other lawsuits pending, and has been awarded some $1.6 billion.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…