Four nations in South America have submitted amicus briefs in a US court, voicing their support for the reversal of a $16.1 billion ruling against Argentina in a pair of prolonged breach of contract lawsuits. Sullivan & Cromwell, the representative of Argentina in this case, is leading the appeal.
Previously in September, U.S. District Judge Loretta Preska in Manhattan ordered Argentina to pay the substantial amount. The ruling was a significant victory for Burford Capital Limited, the litigation funder behind the case which supported the original lawsuits.
In supporting Argentina’s cause, law firms Foley Hoag and Orrick, Herrington & Sutcliffe voiced the legal positions of Brazil and Uruguay, and Chile and Ecuador, respectively. The countries have thrown their weight in favor of Argentina, in an attempt to reverse the verdict against the country.