Bob Giuffra, Co-Chair of Sullivan & Cromwell, and Sergio Galvis, Co-Head of the Firm’s Latin America Practice, spoke with Law.com International about S&C’s role winning a pivotal appeal for the Argentine Republic, guiding a multiyear strategy involving U.S. and Argentine law and damages issues. S&C partners Amanda Davidoff and Tom White also represented the Republic.
The U.S. Court of Appeals for the Second Circuit vacated an $18 billion (with interest) judgment against the Republic arising from the 2012 expropriation of YPF. The decision marked a major milestone in one of the most closely watched sovereign litigation matters in recent years.
S&C became Argentina’s counsel in late 2019. "If you think you're right, you have to stay the course," said Bob. “It takes a certain amount of confidence in your position, and also you have to keep the client's confidence, too."
“Our belief is that Latin American clients, whether it’s a republic like Argentina or a private company, deserve the very best lawyers for the particular situation,” said Sergio. “And that really explains why we got this case. I think it also explains, honestly, why we won it.”
The result highlights Sullivan & Cromwell’s longstanding leadership in complex litigation, the Firm’s deep experience in Latin America, and its ability to prevail in litigation of global significance.
Read the article: Sullivan & Cromwell On The Long Road To Victory For Argentina
Learn more: S&C Obtains Historic Reversal of $18 Billion Judgment Against Republic of Argentina