In response to the default of samurai bonds issued by the Argentine Republic, the management company (bank) of the bonds filed a lawsuit against the Argentine Republic in order to protect the realization of the claims of the holders of the bonds, in 2016. On June 2, 2015, the First Petty Bench of the Supreme Court (Presiding Judge Yutaka Koike) revoked the original judgment that denied the management company's eligibility to become a plaintiff in the lawsuit (eligibility to become a party to the lawsuit). was handed over to the Tokyo District Court (hereinafter referred to as the “Decision”).
This ruling was the first to directly endorse the fact that samurai bonds issued in Japan have the right to pursue lawsuits based on the terms of the bonds. has made a "declaration of intent to beneficiary" (Article 537, Paragraph 1 of the Civil Code) regarding entrusting the pursuit of a lawsuit to a management company "accompanied by the purchase of bonds." In addition to providing substantive legal support for the contractual relationship between the parties to Samurai bonds, it has important practical significance. ), it is a groundbreaking ruling that allows voluntary litigation despite not being one of them.
Attorneys Takashi Ejiri, Hisashi Miyazuka , Yusuke Urano , Kohei Kawamura , Yuki Taguchi , and Tatsuya Tenpaku represented the management company in this judgment .