Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Palladian Partners LP v. Province of Buenos Aires

Suit to Enforce German Orders Over Defaulted Bonds Is Transferred to District of Columbia

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MEMORANDUM DECISION AND ORDER DENYING DEFENDANT’S MOTION TO DISMISS AND TRANSFERRING THIS CASE TO THE DISTRICT OF COLUMBIA Plaintiff Palladian Partners, L.P. (“Palladian”) petitions this Court for recognition and enforcement of two German court judgments against Defendant Province of Buenos Aires (“Province”). Defendant moves to dismiss this claim on the ground that venue does not lie in this district. Defendant is correct. Venue does not lie in the Southern District of New York. Plaintiff has not demonstrated that a substantial amount of property subject to this action is situated in this district, Commissions Imp. Exp. S.A. v. Republic of the Congo, No. 11 CIV. 6176 JFK, 2012 WL 1468486, at *4 (S.D.N.Y. Apr. 27, 2012), and there is no evidence that the Defendant waived any objection to venue for an enforcement action brought in this district. However, as both parties agree that venue lies in the District of Columbia, the better course of action is to DENY Defendant’s motion to dismiss and TRANSFER this lawsuit to the District of Columbia, where it can be adjudicated. I. BACKGROUND Plaintiff is a limited partnership organized under the laws of the Cayman Islands. (Compl. at 4). Defendant is a political subdivision of the Republic of Argentina (the “Republic”), a “foreign state” as defined in 28 U.S.C. §1603(a). (Id. at 5). A. Issuing the Bonds Between May 1999 and April 2000, Defendant issued three sets of euro-denominated bonds (“Bonds”), under German law, held in custody by German stock exchange operator, Deutsche Borse Clearing AG (now known as Clearstream Banking S.A., Frankfurt am Main). (Id. at 10). Plaintiff is the holder of an approximately €2.7 million beneficial interest in the Bonds. (Id. at

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
General Counsel Conference East 2024
November 18, 2024 - November 19, 2024
New York, NY

Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies


Learn More
British Legal Awards 2024
November 27, 2024
London

Celebrating achievement, excellence, and innovation in the legal profession in the UK.


Learn More
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - December 03, 2024
Scottsdale, AZ

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!


Learn More
Go to Events Go to Webcasts
Two Litigation Associate - Melville, NY and New York, NY (2 to 7 Years experience)

Prominent law firm seeks 2 associates to join our defense teams in our downtown New York City and Melville, NY offices.The Litigation Associ...


Apply Now ›
Seattle, WA Litigation Counsel

Description: Fox Rothschild has an opening for a Litigation Counsel in our Seattle office. Experience with insurance bad faith and coverage ...


Apply Now ›
Civil Litigation Attorney - New York

Robert C. Gottlieb & Associates PLLC is a 40-year-old litigation boutique looking to hire a civil attorney who has concentrated in civil...


Apply Now ›
Go to Lawjobs