Skadden has been retained in the high-profile dispute with bondholders of Argentina in New York federal court trying to recover on outstanding judgments against the Republic of Argentina stemming from unpaid bonds issued by the Republic. In October, Argentina announced it was reorganizing its social security system by bringing certain retirement funds previously administered by private pension managers under the management of ANSES (the Argentine social security administration). In the wake of this news, bondholders moved to freeze and execute on funds located in the United States slated to be transferred under Argentine law to the administration of ANSES in Argentina.
The firm is representing ANSES, the Argentine social security administration, which (among other things) claims sovereign immunity.