A New Jersey judge ordered two law firms to pay $1.96 million in legal fees after sanctioning them for filing frivolous litigation they pursued on behalf of billionaire Ronald Perelman .
Argentina plans to start talks with holders of its defaulted bonds in a bid to comply with a U.S. court ruling and stave off a new debt crisis.
Argentina bondholders led by NML Capital urged a federal judge not to delay enforcing his order that the country pay investors in its defaulted bonds at the same time it makes payments on restructured debt.
The Argentine Economy Minister’s plan to exchange securities subject to New York laws into local debt would violate a U.S. court order, a judge said.
Argentine officials plan to come to New York next week for talks with bond holdouts, a lawyer for the South American nation said at a hearing in Manhattan federal court.
"This is a brazen step in violation of this court's orders and it warrants a swift and decisive response."
- Robert Cohen on Jun 26, 2014