Tuesday, 2 September 2014
Last updated 4 hours 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...