BNY Mellon Sits On Fence In €384M Argentina Bond Suit

Law360, London (November 22, 2019, 4:27 PM GMT) -- BNY Mellon has said that it will remain neutral in a €384.7 million ($424.5 million) suit brought by three investment funds holding Argentine government bonds that accuse the country of improperly refusing to pay out on bonds the bank oversaw.

Bank of New York Mellon, as trustee of the Argentine bonds, said that it will keep out of a claim lodged by three investment funds that accuse the South American country’s government of changing a baseline used to assess when payouts were owed in 2013 so that it did not have to cough up for repayments that year.

Argentina said at...

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