The question at oral argument in the case of Republic of Argentina v. NML Capital Ltd. before the Supreme Court yesterday was whether federal courts in the U.S. may issue subpoenas to banks to help creditors who have won judgments against Argentina find assets around the world, the New York Times reported today. Several justices seemed prepared to allow subpoenas for some information, though some of them suggested the creditors’ requests had been too sweeping. Theodore B. Olson, a lawyer for the bondholders in both cases, said that they were entitled to detailed information because Argentina had been disguising and hiding its assets. “If it’s an airline that says Argentine Air Force on the side of it,” he said, “it still could be commercial property. We need to know what those assets are.” Chief Justice John G. Roberts Jr. said that request went too far. “Doesn’t that seem pretty extraordinary?” he asked, adding: “That’s pretty intrusive at a sovereign level to say you can find out how many jet fighters Argentina happens to have.” Jonathan I. Blackman, a lawyer for Argentina, said the information sought would also intrude on other matters protected by foreign sovereign immunity.
