Complex sentence: Elliot filed an injunction to prevent Peru from paying off its restructured debt without also paying Elliott arguing that Peru violated the "pari passu" clause, which states that no creditor could be given preferential treatment.
Split into simpler sentences: Elliot filed an injunction to prevent Peru from paying off its restructured debt without also paying Elliott. It was argued that Peru violated the "pari passu" clause, which states that no creditor can be given preferential treatment.