The *other* Argentina Case is Going to the Supreme Court

From Credit Slips:

As Argentina-watchers know, the pari passu saga is only one aspect of the broader kerfuffle between Argentina and NML. On Friday, the U.S. Supreme Court agreed to hear Argentina's appeal of another Second Circuit decision, this one allowing NML and other judgment creditors to take broad post-judgment discovery into the country's assets. As Anna Gelpern and I have written elsewhere, creditors probably can't seize much in the way of sovereign assets, but they can use a money judgment to impose an embargo on the sovereign's commercial and financial transactions. The more you know about those transactions, the tighter and more effective the embargo....MORE