Jenkins March Madness

While March Madness in the basketball realm kicks into full force this weekend, so to does MULS’s own version of March Madness—the annual Jenkins Honors Moot Court Competition.

Beginning this Saturday, preliminary rounds featuring eleven upper-level student teams will be held at Ray and Kay Eckstein Hall. First (10 a.m.), Second (1 p.m.), and Auxiliary (4 p.m.) rounds will be held Saturday, with Third (10 a.m.) and Fourth (1 p.m.) rounds held Sunday. Four of the eleven teams will advance to the semi-finals, held March 27th, and two teams will advance to the finals held April 3rd. All rounds are open to the public.

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Life Is Short–Appreciate It

It’s easy to be consumed by one’s work. In fact, most individuals in legal pursuits seem to pride themselves in it. Unfortunately, this can cause one to lose sight of the things that matter most—our loved ones and health in mind, body, and spirit.

Within the span of two weeks, a dear family friend was gone. Returning home from a favorite pastime, a Florida golf outing, a vivacious family man and father figure to many, suddenly found himself in the final stages of interstitial lung disease. In the coming days his condition worsened until the Lord eventually called him home at the age of 66.

As I sat in church last Friday, all I could think about was how quickly it happened. It wasn’t until the familiar arm around the neck never came, though, that reality set in. But what was that reality? That I was dejected? That a man who always had time for others, and lived life to the fullest, had been taken too early? Or, was it that maybe my own work had begun to blur important aspects of my life?

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Second Circuit’s Ruling to Impact the Sovereign Debt Market?

Just how much power—or better yet, influence—does the American judicial system really have over sovereign nations? This is the underlying question that the Second Circuit must resolve before rendering its decision over how to handle a group of hedge funds’ dispute with the Republic of Argentina.

In 2001, amidst its worst economic turmoil in history, the Republic of Argentina defaulted on nearly $100 billion of its debt. While bondholders immediately felt an adverse effect, until recently, they were left with few options but to accept the government’s restructured—and heavily discounted—exchange bonds. This all changed, however, when Judge Thomas P. Griesa of the District Court for the Southern District of New York sided with the plaintiff hedge funds, and enjoined both the Republic of Argentina and third party banks from making payments on the exchange bonds unless the other bondholders were also paid.

As this decision comes under its review, the Second Circuit is presented with numerous considerations. Will its decision result in unrest in credit markets? If it affirms, will innocent exchange bondholders be negatively affected? Do third party U.S. banks stand to become the only victims? Rudimentary to all of these considerations, though, is what can the court threaten to do—or really do—to Argentina if it does not follow the court’s order?

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