16 June 2014
Rodrigo Olivares-Caminal, Professor in Banking and Finance Law, commented in an article from Thomas Reuters on the role of the United States Supreme Court on Argentina’s debt restructuring. Argentina recently appealed against a lower court’s decision that a group of hedge fund creditors should pay their debts in full. A quick decision by the US Supreme Court could lead to a default on Argentina’s debt and harm the peso. However, investors speculate that the decision may take longer and allow time to negotiate a new solution. Professor Olivares-Caminal points out that the court is unable to hear the majority of appeals it receives and that many do not have straightforward decisions.