• The Sky is Not Falling: Why Judge Griesa’s Decision will Not Bring the Apocalypse to Argentina or the Worldwide Financial System
  • December 11, 2012 | Authors: Cristián Francos; Eric L. Lewis; Manuel S. Varela
  • Law Firms: Lewis Baach PLLC - Buenos Aires Office ; Lewis Baach PLLC - Washington Office
  • There has been a great deal of talk regarding the Second Circuit Court of Appeals decision in October as well as Judge Griesa’s recent order requiring Argentina to pay the so-called vulture fund bondholders. Whether or not the pronouncements by the trial and appellate courts are correct is a topic that has been exhausted by commentators both in and out of Argentina. The speculation, however, that this will lead to an Argentine default or force the banks to decline to pay settling bondholders is misplaced.