Today the House Foreign Affairs Committee's Subcommittee on the Western Hemisphere passed H.R. 1798, the Judgment Evading Foreign States Accountability Act of 2011 (JEFSA).

Today the House Foreign Affairs Committee's Subcommittee on the Western Hemisphere passed H.R. 1798, the Judgment Evading Foreign States Accountability Act of 2011 (JEFSA).

ATFA Co-Chairs Nancy Soderberg and Robert Shapiro Applaud Subcommittee Approval of Legislation Holding Argentina Accountable

WASHINGTON, D.C. (November 29, 2012) - Today the House Foreign Affairs Committee's Subcommittee on the Western Hemisphere passed H.R. 1798, the Judgment Evading Foreign States Accountability Act of 2011 (JEFSA).  The legislation would "prevent foreign states that do business, issue securities, or borrow money in the United States, and then fail to satisfy United States court judgments totaling $100 million or more" from hurting U.S. businesses and investors and flouting the rule of law.  The following statement should be attributed to Ambassador Nancy Soderberg and Hon. Robert J. Shapiro, co-chairs of American Task Force Argentina: Today's markup of JEFSA shows that Congress understands the importance of holding foreign governments accountable when they act in bad faith regarding U.S. citizens and the international community. We commend the Subcommittee on the Western Hemisphere and particularly Chairman Connie Mack for his leadership and support in this matter, along with the other members of the subcommittee. JEFSA would have a profound impact when it comes to situations such the recent actions of the Argentine government, which has disregarded more than 100 U.S. court judgments directing it to honor its obligations to U.S. lenders and investors.   It is our hope that the Congressional leadership will give this bill due consideration to show the Argentine and any other irresponsible governments that there are consequences to their actions.

About the American Task Force Argentina The American Task Force Argentina (ATFA) is an alliance of organizations united for a just and fair reconciliation of the Argentine government's 2001 debt default and subsequent restructuring. Our members work with lawmakers, the media, and other interested parties to encourage the United States government to vigorously pursue a negotiated settlement with the Argentine government in the interests of American stakeholders.  To contact us, email media@atfa.org or call 888-662-2382.

American Task Force Argentina PO Box 3197 Arlington VA 22203-0197