This quixotic strategy met with unexpected success when Federal Judge Thomas Griesa ruled in the holdouts’ favor. Griesa idiosyncratically reinterpreted the pari passu, or equal treatment, clause in the debt contracts to mean that “vulture” funds refusing to participate in the earlier debt exchange should receive not 30 but 100 cents on the dollar.
这一异想天开的战略取得了出人意料的成功，联邦法官托马斯·葛里萨（Thomas Griesa）做出了有利于顽固派的裁决。葛里萨对债务合同中的“平等对待”条款做出了独特的解释，认为这意味着拒绝参与早先的债务转换的“兀鹫”基金不应该获得三折偿付，而应该获得足额偿付。