Argentina is seeking Supreme Court review of lower court injunctions inhibiting its ability to restructure its debt obligations. (Another, related case, was heard by the Court earlier this term.) Among the arguments Argentina’s creditors have made against granting certiorari is that Argentina has suggested that it would refuse to comply with any adverse judgment. This argument was also made in an amicus brief filed by several former federal judges.
In a column last week, Reuters’ Alison Frankel noted that Argentina’s attorneys pledged it would comply with an adverse judgment should it not prevail. Yesterday, however, Frankel reported on evidence presented by Argentina’s creditors “suggesting that the country is secretly planning to evade U.S. court orders in the event that the justices refuse to hear its case.” Writes Frankel, “I may have been too quick to believe that Argentina actually intended to follow through on a pledge to the U.S. Supreme Court.” This one is worth watching.