The multimillion-dollar drama over Argentina’s sovereign debt played out before the U.S. Court of Appeals for the Second Circuit on Feb. 28 in a hearing that lasted more than two hours.
Counsel for Argentina, Jonathan Blackman of Cleary Gottlieb Steen & Hamilton, asked the court to force Argentina’s holdout creditorsthe so-called "vulture funds" that have refused to accept less than face value in a restructuringto accept the haircut that they rejected.
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