While it hasn't reached SCOTUS yet, and perhaps never will, I've been following the case of
Argentina vs Paul Singer's hedge fund, Elliott Management Corporation. Argentina issued some bonds coming due in 2017 and found itself unable to meet its annual interest payments. It negotiated a deal with most of its bondholders where they agreed to accept something like 35 cents on the dollar. Singer wants 100 cents on the dollar. He had a preliminary ruling in his favor, but that was overturned by an appeals court. It seems to me that all bondholders should be treated the same. Singer's demand to be paid more than everyone else has caused
all payments to
everyone to be suspended until it is resolved, which naturally leaves all the other bondholders really annoyed.
The case raises a variety of issues, one of which is jurisdictional (why is this in US courts to begin with? can US courts compel a sovereign nation to follow a certain course of action?). I have no sympathy for Singer nor for Argentina, whatever "sympathy" I might have is limited solely to whatever retirement plans or charitable endowments that own Argentina's bonds.