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NML CAPITAL, LTD v. BCRA.

Docket Nos. 10-1487-cv(L), 10-1488-cv(CON), 10-1493-cv(CON), 10-1507-cv(CON), 10-1510-cv(CON), 10-1524-cv(CON), 10-1529-cv(CON), 10-1545-cv(CON), 10-1603-cv(CON), 10-1629-cv(CON).

652 F.3d 172 (2011)

NML CAPITAL, LTD. and EM Ltd., Plaintiffs-Appellees, v. BANCO CENTRAL DE LA REPÚBLICA ARGENTINA, Interested Non-Party-Appellant, The Republic of Argentina, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided: July 5, 2011.

Attorney(s) appearing for the Case

Jonathan I. Blackman ( Carmine D. Boccuzzi,   Christopher P. Moore,   Rahul Mukhi, on the brief), Cleary Gottlieb Steen & Hamilton LLP, New York, NY, for Defendant-Appellant The Republic of Argentina.

Joseph E. Neuhaus ( Laurent S. Wiesel,   Michael J. Ushkow,   Taly Dvorkis, on the brief), Sullivan & Cromwell LLP, New York, NY, for Interested Non-Party-Appellant Banco Central de la República Argentina.

Theodore B. Olson, Gibson, Dunn & Crutcher LLP, Washington, DC ( Matthew D. McGill,   Jason J. Mendro, Gibson, Dunn & Crutcher LLP, Washington, DC; Robert A. Cohen,   Dennis H. Hranitzky, Dechert LLP, New York, NY, on the brief), for Plaintiff-Appellee NML Capital, Ltd.

David W. Rivkin ( John B. Missing and Suzanne M. Grosso, on the brief), Debevoise & Plimpton LLP, New York, NY, for Plaintiff-Appellee EM Ltd.

Michele Kalstein, Counsel and Vice President ( Thomas C. Baxter, Jr., General Counsel, on the brief), The Federal Reserve Bank of New York, New York, NY, for amicus curiae The Federal Reserve Bank of New York in support of Appellants.

John D. Clopper, Assistant United States Attorney ( Preet Bharara, United States Attorney, Benjamin H. Torrance, Assistant United States Attorney, United States Attorney's Office for the Southern District of New York, New York, NY; Tony West, Assistant Attorney General, Douglas N. Letter,   Sharon Swingle, United States Department of Justice, Washington, DC; George W. Madison, General Counsel, Department of the Treasury, Washington, DC; Harold Hongju Koh, The Legal Adviser, Department of State, Washington, DC, on the brief), for amicus curiae United States of America in support of Appellants.

Hal S. Scott, Program on International Financial Systems, Harvard Law School, Cambridge, MA, amicus curiae in support of Appellees.

Before: MINER, CABRANES, and STRAUB, Circuit Judges.

JOSÉ A. CABRANES, Circuit Judge:

The question presented is whether certain assets held in the United States in an account of interested non-party-appellant Banco Central de la República Argentina ("BCRA") at the Federal Reserve Bank of New York ("FRBNY") are immune from attachment and execution under the Foreign Sovereign Immunities Act of 1976, 28 U.S.C. § 1602 et seq. ("FSIA").1<...

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