Buenos Aires, it is not, but the United States Supreme Court recently requested that the United States Solictor General provide an opinion involving a dispute between certain parties over the proprietary of certain Argentinean bonds.

The dispute involves funds belonging to the Argentinean central bank held in the United States.  The United States Court of Appeals for the Second Circuit had previously concluded that the funds were immune from attachment.  The decision had blocked a bondholder group from obtaining compensation for its losses, and an appeal to the Supreme Court followed.  Now, the Supreme Court has taken up the case, and is considering the potential ramifications.  This hotly contested matter had seen the district court allow the bondholders to reach the funds while the second circuit holding such relief.

Intriguingly, it will be interesting to see whether the United States Supreme Court reaches the issue if the Argentinean Central Bank is the alter ego of the Argentinean Republic that issued the bonds.  A decision is expected by the end of the Supreme Court’s current term.