Thursday, 28 July 2016
Last updated 6 hours ago
Oct 23 2013 | 11:32am ET
Argentina has a new lawyer in its battle against hedge fund creditors.
The country has hired former U.S. Solicitor General Paul Clement to represent it. The country is appealing rulings ordering it to pay holdouts from its 2001 debt default, led by Elliott Management. If its appeals fail, it could push the country into a second default.
Clement served as solicitor general, who represents the U.S. government before the Supreme Court, during President George W. Bush's second administration. The high court earlier this month denied Argentina's bid for a hearing, but is likely to consider the case again following a ruling by a lower appeals court.
Should the case reach the Supreme Court, Clement would likely face off against his predecessor as solicitor general, Ted Olson, who held the office during Bush's first term. Olson serves as Elliott's lead lawyer in the case.