The US courts played a significant role in the Argentine debt swap of 2005, influencing creditor rights in sovereign bond markets. The judge in the case cleverly managed different types of creditors to achieve a majority agreement for the debt swap. This approach, known as judge-mediated sovereign debt restructuring, could be a useful tool in resolving debt issues in the future. It complements the use of collective action clauses in bond contracts, as suggested by the US Treasury.