Bainbridge Capital, an investment fund, requested to seize a building of the Nation that is located in Washington DC, United States, for bonds that it would not have collected. That is what is known so far, beyond the statement issued by the organization.
The property claimed by the investment fund Bainbridge Capital is, as collected by Infobae, “a property of 702 square meters located at 2136 R St NW, in a residential area between Kalorama and Dupont Circle, near the Argentine embassy in the US, with 15 bedrooms and 9 toilets”.
Based in the Bahamas Islands, Bainbridge Capital began the trial for securities in default not exchanged in 2005 and 2010 and did not accept the renegotiation carried out by the government of Alberto Fernández with private creditors led by Minister Martín Guzmán in 2020. Supposedly, Argentina would not have paid its debt, ergo the judicial beginning.
What does the writing say?
Bainbridge Capital’s statement clarifies: “The Republic (Argentina) does not deny having waived its jurisdictional sovereign immunity. As for immunity from execution, the Republic ignores the incredibly broad scope of its consent to relief under the FSIA, except to suggest that the consent does not encompass the FSIA despite clear language to the contrary.”
The words accentuate the contradiction of the conflict: “The Republic presents a series of contradictory arguments about commercial use, which is irrelevant, given the specific language of consent. On the one hand, it argues that if it is necessary to prove commercial activity, the property is deteriorated and unusable for any commercial activity. On the other hand, the Republic argues that it is being actively used as part of its diplomatic mission in the United States. Both arguments contradict each other.
The brief indicates that, in the last four decades, the only use has been “of a commercial nature, in a clear course of commercial conduct on the part of the Republic”, and ensures that the talk is “deviated, alleging without foundation that the property it has immunity as diplomatic property under the Vienna Convention.”
Likewise, they affirm, finally, that from the Government they took the banner of “diplomatic immunity”, which, according to what is alleged by the investment fund, “It’s available for any property where you hang a flag, display a seal, or put some diplomatic files in the basement. This incredible claim has no basis in fact, law or procedure.”.