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NML CAPITAL, LTD. v. REPUBLIC OF ARGENTINA

Docket Nos. 10-4450-cv (L), 10-4452-cv (CON), 10-4475-cv (CON), 10-4486-cv (CON), 10-4488-cv (CON), 10-4490-cv (CON), 10-4491-cv (CON), 10-4492-cv (CON), 10-4493-cv (CON), 10-4495-cv (CON), 10-4506-cv (CON).

680 F.3d 254 (2012)

NML CAPITAL, LTD., EM Ltd., Plaintiffs-Appellees, v. The REPUBLIC OF ARGENTINA, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided: March 30, 2012.

Attorney(s) appearing for the Case

Matthew D. McGill (Theodore B. Olson, on the brief), Gibson, Dunn & Crutcher LLP, Washington, D.C.; (Robert A. Cohen & Dennis H. Hranitzky, on the brief), Dechert LLP, New York, NY, for Plaintiff-Appellee NML Capital, Ltd.

David W. Rivkin (John B. Missing & Suzanne M. Grosso, on the brief), Debevoise & Plimpton LLP, New York, NY, for Plaintiff-Appellee EM Ltd.

Jonathan I. Blackman (Carmine D. Boccuzzi, Christopher P. Moore, on the brief), Cleary Gottlieb Steen & Hamilton LLP, New York, NY, for Defendant-Appellant Republic of Argentina.

Before: JACOBS, Chief Judge, CABRANES and WESLEY, Circuit Judges.

JOSÉ A. CABRANES, Circuit Judge:

The question presented is whether certain funds owned by the Republic of Argentina (the "Republic" or "Argentina") were subject to attachment pursuant to 28 U.S.C. § 1610 because they were "used for a commercial activity in the United States." 28 U.S.C. § 1610(a).1 To resolve this question, we must decide whether the Republic's payment of the purchase price of commercial goods to a seller...

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