Sonntag, 31. Januar 2016
At the hearing, counsel for Buenos Aires and Argentina — who represented the defendants in all the cases, including the one on appeal here — raised the point that many of the plaintiffs in the other suits had not obtained authorization to sue from the registered holders. But "[i]n terms of the Province [of Buenos Aires] case" at issue here, counsel for Buenos Aires stated that Mr. Applestein had sought authorization from DTC through Lehman Brothers. Counsel stated, "So what happens here is there is a verification function that DTC plays, and this is relevant. . . . [T]here is a letter from DTC to the participant [Lehman Brothers] and from the participant to Mr. Applestein, so there is a role. That is *245245authorizing the suit. . . ." Judge Griesa rejected defense counsel's standing argument, concluding, "The fact is that these beneficial owners are entitled to sue. If there are some formalities that have to be carried out, they can be easily carried out, and that's that.
Eingestellt von rolf j. koch um 02:50