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Aurelius Capital Partners, LP v. Republic of Argentina

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Argued: May 11, 2009

Before: WALKER and WALLACE,*fn1 Circuit Judges.*fn2

The Republic of Argentina (Republic) appeals from the district court’s orders of attachment and execution (Thomas P. Griesa, Judge) entered in late 2008 over Argentine social security funds, which under proposed Argentine legislation were to be transferred to the Administración Nacional de Seguridad Social (the Administration). The orders were confirmed in the district court’s opinion and order dated December 11, 2008, immediately after the legislation transferring the funds to the Administration became effective. The district court had jurisdiction pursuant to 28 U.S.C. § 1330. We have jurisdiction over the appeal from the district court’s December 11, 2008 order and opinion pursuant to 28 U.S.C. § 1291, and we have jurisdiction over the restraining orders, orders of attachment and writs of execution pursuant to 28 U.S.C. § 1292(a)(1) and the collateral order doctrine described in Cohen v. Beneficial Industrial Loan Corp., 337 U.S. 541, 546-47 (1949). Because we conclude that the funds were immune from attachment under the Foreign Sovereign Immunities Act (Act), 28 U.S.C. §§ 1602-1611, we reverse the decision of the district court and vacate its orders.

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