The renowned law firm, Cleary Gottlieb Steen & Hamilton, has managed to achieve a significant victory on behalf of Argentina, in the midst of continuous attempts made by creditors to seize the South American country’s assets due to its significant debt burden.
Representatives from the Duane Morris law firm, aiming to collect a 2020 judgement for $95.4 million on behalf of Bainbridge Capital, sought permission from the United States District Court for the Southern District of New York to seize Argentina’s Chancery Annex in Washington D.C.
With this recent ruling, Cleary Gottlieb was able to effectively argue that the Parisian-style townhouse, located in the highly esteemed Kalorama neighborhood, serves as a storage for diplomatic documents and as such, it is immune from attachment. This successful argument has consequently prevented a potential asset seizure from Argentina.
For more information you can have a look at the full report on this case.