A Wall Street Journal article on Mexico's support for Argentina's petition to the Supreme Court in a dispute with holdout creditors quoted Terry legal studies professor Tim Samples.
Mexico has sided with Argentina in the case, arguing that forcing Argentina to pay holdout creditors in full after restructuring threatens sovereign immunity and debt workout plans for other countries as well.
A majority of emerging market sovereign bonds are issued under New York law, Samples said. "Needless to say, New York law, and by extension, this case, is critical to sovereign debt markets."
Support from Brazil, France, and Mexico "reflects Argentina's return, or steps to return, to the international community," Samples added.
The full article is available to subscribers.