even if the former was undertaken to provide a public service, and the latter was initiated to raise revenue. Republic of Argentina v. Weltover, 504 U.S. 607 (1992), concerned a breach of contract claim asserted by the bond-holder (two Panamanian corporations and a Swiss bank) against the government (Argentina) that issued the bonds arising from Argentina's default on the bond payments. Under the terms of the bonds, the bond-holders were given the option of having the bonds paid in London, Frankfurt, Zurich, or New York. Because the case concerned a default in Argentina on bonds issued in Argentina (i.e., an act performed outside the United States in connection with activity outside the United States), in order to establish jurisdiction, the plaintiff's could only rely on the third basis to sue Argentina under the commercial activity exception. Argentina made two primary arguments as to why the FSIA commercial activity exception should not apply: (1) the issuance of sovereign debt to investors was not a "commercial" activity and (2) the alleged default could not be considered to have had a "direct effect" in the United States. In a unanimous opinion written by Justice Antonin Scalia, the Supreme Court held that Argentina was not entitled to sovereign immunity. Reasoning that "when a foreign government acts, not as regulator of a market, but in the manner of a private player within it, the foreign sovereign's actions are 'commercial, the Court concluded that Argentina's issuance of the bonds was of a commercial character. As for the "direct effect" in the United States, the Court rejected the suggestion that under the FSIA the effect in the United States necessarily needed to be "substantial" or "foreseeable" and instead concluded that in order to be "direct", the effect need only "follow as an immediate consequence" of the defendant's activity. Because New York was the place where payment was supposed to be made, the Court concluded that the effect was direct, notwithstanding the fact that none of the plaintiffs were situated in New York. Weltover's victorious position was argued by New York-based attorney Richard Cutler, while Argentina's case was argued by attorney Richard Davis. In 2015, the Supreme Court unanimously held in OBB Personenverkehr AG v. Sachs that the purchase of a rail ticket from an authorized agent in the US does not fall within the commercial activity exception when the lawsuit concerns a rail accident in a foreign