Monday, 1 September 2014
Last updated 2 days ago
Mar 27 2013 | 10:42am ET
Argentina has suffered another court defeat in its battle with hedge fund Elliott Associates over its 2001 default.
The U.S. Second Circuit Court of Appeals will not rehear the country's appeal of a lower-court ruling that bars Argentina from paying bondholders who accepted its debt exchanges before it pays holdouts, like Elliott affiliate NML Capital. A three-judge panel of the court in October upheld that ruling.
Argentina had sought a rehearing before the full court. It can still appeal to the U.S. Supreme Court; the country has vowed to exhaust its legal avenues.
The two sides are still waiting on another ruling from the Second Circuit, over whether the lower-court judge was correct to lift a stay which allows Argentina to continue paying exchange debtholders during its appeals. During a contentious hearing last month, the court did not appear inclined to leave the stay in place, and Argentina suggested it would ignore any rulings contrary to its wishes.
Argentina has until Friday to respond to a request from the Second Circuit for an alternative payment proposal.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...