Aside from costing Argentina billions, the likeliest effect of an Elliott Associates win in the Argentine bondholder litigation may not be to end sovereign restructuring, but to re-route it from New York to London. And the biggest loser after Argentina might be Cleary Gottlieb Steen & Hamilton, which has built a tidy business in issuing, restructuring, and litigating New York-law bonds from Latin America.
The Global Lawyer: Elliott and the Vultures v. Cleary and the Deadbeats
The Litigation Daily
December 4, 2012
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