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EM LTD. v. REPUBLIC OF ARGENTINA

No. 03-9275.

382 F.3d 291 (2004)

EM LTD., Plaintiff-Appellee, v. THE REPUBLIC OF ARGENTINA, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided August 31, 2004.

Attorney(s) appearing for the Case

Jonathan L. Blackman, New York, N.Y. (Carmine D. Boccuzzi and Cleary, Gottlieb, Steen & Hamilton, of counsel), for Defendant-Appellant.

David W. Rivkin, New York, N.Y. (John B. Missing, Dennis H. Hranitzky and Debevoise & Plimpton, LLP, of counsel), for Plaintiff-Appellee.

Before OAKES and RAGGI, Circuit Judges, and HOLWELL, District Judge.

PER CURIAM.

The Republic of Argentina ("Argentina") contests the right of its bondholder, EM Ltd. ("EM"), to collect the amount due on defaulted bonds in United States dollars rather than Argentine pesos, which are significantly devalued in relation to the dollar. There is no question that Argentina defaulted on the bonds or that EM has declared due the principal amount it is owed. Rather, the parties take differing views as to whether the bond certificates and Fiscal...

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