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Argentina Files Final Response Urging SCOTUS to Accept Predatory Hedge Fund Debt Case

by Erin Kelso Wednesday, May. 28, 2014 at 6:50 AM
advocacy@jubileeusa.org

Argentina filed its final Supreme Court response to hedge fund NML Capital urging the high court to take the case that the Financial Times calls "the debt trial of the century." Jubilee USA filed an Amicus Curiae brief in March noting that the precedent in the case will impact debt restructurings, poor country access to credit and debt relief programs designed to help people living in extreme poverty. The US government and the International Monetary Fund support Argentina. On June 12th, the Supreme Court is scheduled to discuss whether or not it will hear the case.

Argentina filed its final Supreme Court response to hedge fund NML Capital urging the high court to take the case that the Financial Times calls "the debt trial of the century." Jubilee USA filed an Amicus Curiae brief in March noting that the precedent in the case will impact debt restructurings, poor country access to credit and debt relief programs designed to help people living in extreme poverty. The US government and the International Monetary Fund support Argentina. On June 12th, the Supreme Court is scheduled to discuss whether or not it will hear the case.

"We've finally reached the end game in the Argentina NML debt case," said Eric LeCompte, Executive Director of the religious antipoverty group, Jubilee USA Network. We pray the Supreme Court will take the case as it will impact people living in extreme poverty around the globe."

Last week LeCompte met Pope Francis and presented the Holy Father Jubilee USA's Supreme Court filing in support of Argentina.

Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. http://www.jubileeusa.org
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