Simpson Thacher Achieves Favorable Ruling for Aurelius Capital Master, Ltd., Aurelius Capital Partners, LP, and Blue Angel Capital I LLC
On November 19, 2009, Judge Thomas P. Griesa of the U.S. District Court for the Southern District of New York issued an Order in favor of Firm clients Aurelius Capital Master, Ltd., Aurelius Capital Partners, LP, and Blue Angel Capital I LLC upholding restraining orders with respect to approximately $2 billion of Argentine bond interests being held in trust as collateral for Argentine government loans. In April 2008, Judge Griesa issued temporary restraining orders with respect to these assets on behalf of STB’s clients, who hold judgments against the Republic of Argentina in excess of $550 million. The temporary restraining orders converted into preliminary injunctions 20 days later and the Republic immediately appealed to the Second Circuit. Following recent oral argument, which STB argued on behalf of its clients, as well as other creditors in consolidated appeals, the Second Circuit issued an Order of Preliminary Injunction in early November keeping the injunction in place and remanding the case to Judge Griesa for further fact finding. Judge Griesa’s November 19 Order contained additional findings of fact reflecting information obtained pursuant to discovery that was compelled by the Court during the pendency of the restraining orders.
The Simpson Thacher team consists of Barry Ostrager, Tyler Robinson, Mary Kay Vyskocil, Laura Murphy, Susan Cordaro, Chantale Fiebig, Erin Bradrick, Sonya Mirbagheri, and Jennifer Gomez, with valuable assistance from paralegal Cyrena Terricone.