12-105(L) NML Capital, Ltd. v. Republic of Argentina
U
NITED
S
TATES
C
OURT OF
A
PPEALS
1
FOR THE
S
ECOND
C
IRCUIT
2 _____________________ 34August Term, 201256(Argued: February 27, 2013 Decided: August 23, 2013)78Docket Nos. 12-105(L), 12-109 (CON), 12-111 (CON), 12-157 (CON), 12-158 (CON), 12-1639(CON), 12-164 (CON), 12-170 (CON), 12-176 (CON), 12-185 (CON), 12-189 (CON), 12-21410(CON), 12-909 (CON), 12-914 (CON), 12-916 (CON), 12-919 (CON), 12-920 (CON), 12-92311(CON), 12-924 (CON), 12-926 (CON), 12-939 (CON), 12-943 (CON), 12-951 (CON), 12-96812(CON), 12-971 (CON), 12-4694 (CON), 12-4829 (CON), 12-4865 (CON)
*
13 _____________________ 1415 NML
C
APITAL
,
L
TD
.,
A
URELIUS
C
APITAL
M
ASTER
,
L
TD
.,
ACP
M
ASTER
,
L
TD
.,
B
LUE
A
NGEL
16C
APITAL
I
LLC,
A
URELIUS
O
PPORTUNITIES
F
UND
II,
LLC,
P
ABLO
A
LBERTO
V
ARELA
,
L
ILA
I
NES
17B
URGUENO
,
M
IRTA
S
USANA
D
IEGUEZ
,
M
ARIA
E
VANGELINA
C
ARBALLO
,
L
EANDRO
D
ANIEL
18P
OMILIO
,
S
USANA
A
QUERRETA
,
M
ARIA
E
LENA
C
ORRAL
,
T
ERESA
M
UNOZ
D
E
C
ORRAL
,
N
ORMA
19E
LSA
L
AVORATO
,
C
ARMEN
I
RMA
L
AVORATO
,
C
ESAR
R
UBEN
V
AZQUEZ
,
N
ORMA
H
AYDEE
G
INES
,20M
ARTA
A
ZUCENA
V
AZQUEZ
,
O
LIFANT
F
UND
,
L
TD
.,2122
Plaintiffs-Appellees
,2324v.2526T
HE
R
EPUBLIC OF
A
RGENTINA
,2728
Defendant-Appellant
,2930T
HE
B
ANK OF
N
EW
Y
ORK
M
ELLON
, as Indenture Trustee, E
XCHANGE
B
ONDHOLDER
G
ROUP
,31F
INTECH
A
DVISORY
I
NC
.,3233
Non-Party Appellants
,3435
*
Appeals numbered 12-105, 12-109, 12-111, 12-157, 12-158, 12-163, 12-164, 12-170,12-176, 12-185, 12-189, and 12-214 were dismissed as of October 26, 2012. Appeals numbered 12-909, 12-914, 12-916, 12-919, 12-920, 12-923, 12-924, 12-926, 12-939, 12-943, 12-951,12-968, 12-971, 12-4829 are decided by this opinion. Appeals numbered 12-4694 and 12-4865are dismissed by this opinion.1
Case: 12-909 Document: 481 Page: 1 08/23/2013 1024316 25
E
URO
B
ONDHOLDERS
,
ICE
C
ANYON
LLC,1
Intervenors
.23Before: P
OOLER
,
B.D.
P
ARKER
,
and
R
AGGI
,
Circuit Judges
.4 ___________________ 56Defendant-Appellant the Republic of Argentina, Non-Party Appellants, and Intervenors7appeal from amended orders issued by the United States District Court for the Southern District8of New York (Griesa,
J.
). The amendments explain certain aspects of those orders which were9designed to remedy Argentina’s breach of a promise to pay bondholders after a 2001 default on10its sovereign debt. We hold that the district court did not abuse its discretion in issuing the11orders.1213AFFIRMED.14 ___________________ 1516T
HEODORE
B.
O
LSON
(Matthew D. McGill, Jason J.17Mendro,
on the brief
), Gibson, Dunn & Crutcher 18LLP, Washington, D.C.; Robert A. Cohen, Eric C.19Kirsch, Dechert LLP, New York, N.Y.,
for
20
Plaintiff-Appellee NML Capital, Ltd
.2122Leonard F. Lesser, Simon Lesser, P.C., New York,23 N.Y.,
for Plaintiff-Appellee Olifant Fund, Ltd
.2425Michael C. Spencer, Milberg LLP, New York, N.Y.,
for
26
Plaintiffs-Appellees Pablo Alberto Varela, et al.
2728Edward A. Friedman, Daniel B. Rapport, Friedman29Kaplan Seiler & Adelman LLP, New York, N.Y.;30Roy T. Englert, Jr., Mark T. Stancil, Robbins,31Russell, Englert, Orseck, Untereiner & Sauber LLP,32Washington, D.C.,
for Plaintiffs-Appellees Aurelius
33
Capital Master, Ltd., ACP Master, Ltd., Blue Angel
34
Capital I LLC,
and
Aurelius Opportunities Master
35
Fund II, LLC
.3637J
ONATHAN
I.
B
LACKMAN
(Carmine D. Boccuzzi,38Ezequiel Sanchez-Herrera, Sara A. Sanchez,39Michael M. Brennan,
on the brief
), Cleary Gottlieb40Steen & Hamilton LLP, New York, N.Y.,
for
41
Defendant-Appellant the Republic of Argentina
.4243442
Case: 12-909 Document: 481 Page: 2 08/23/2013 1024316 25
J
AMES
C.
M
ARTIN
(Colin E. Wrabley,
on the brief
),1Reed Smith LLP, Pittsburg, Penn.; Eric A Schaffer,2Reed Smith LLP, New York, N.Y.,
for Non-Party
3
Appellant The Bank of New York Mellon, as
4
Indenture Trustee
.56D
AVID
B
OIES
(David A. Barrett, Nicholas A. Gravante,7Jr., Steven I. Froot,
on the brief
), Boies, Schiller &8Flexner LLP, New York, N.Y.; Sean F. O’Shea,9Michael E. Petrella, Daniel M. Hibshoosh, O’Shea10Partners LLP, New York, N.Y.,
for Non-Party
11
Appellants the Exchange Bondholder Group
.1213William F. Dahill, Wollmuth Maher & Deutsch LLP,14 New York, N.Y.,
for Non-Party Appellant Fintech
15
Advisory Inc
.1617Christopher J. Clark, Craig A. Batchelor, Michael E.18Bern, Latham & Watkins, LLP, New York, N.Y.,19
for Intervenors Euro Bondholders
.2021Bruce Bennett, James O. Johnston, Beong-Soo Kim,22Jones Day, Los Angeles, Cal.; Meir Feder, Jones23Day, New York, N.Y.,
for Intervenor ICE Canyon
24
LLC
.2526David W. Rivkin, Suzanne M. Grosso, Debevoise &27Plimpton LLP, New York, N.Y.,
for Amicus Curiae
28
EM Ltd., in support of Plaintiffs-Appellees
.2930Ronald Mann, Esq., New York, N.Y.,
Amicus Curiae
31
pro se
,
in support of Plaintiffs-Appellees
.3233Jack L. Goldsmith III, Cambridge, Mass.; Judd B.34Grossman, Grossman LLP, New York, N.Y.,
for
35
Amici Curiae Montreux Partners, L.P. and Wilton
36
Capital, in support of Plaintiffs-Appellees
.3738Richard A. Samp, Cory L. Andrews, Washington Legal39Foundation, Washington, D.C.,
for Amicus Curiae
40
the Washington Legal Foundation, in support of
41
Plaintiffs-Appellees
.4243443
Case: 12-909 Document: 481 Page: 3 08/23/2013 1024316 25