Saturday, 20 September 2014
Last updated 1 day ago
Apr 3 2013 | 11:54am ET
Having read Argentina's plan to repay them, a U.S. appeals court has given two hedge funds and other holdouts from the country's 2001 debt default three weeks to respond to that proposal.
Argentina on Friday offered two options to the holdouts, either cutting the bonds' face-value or extending their terms. Either would put the holdouts, led by Elliott Management and Aurelius Capital Management, on the same terms as those who participated in Argentina's 2010 debt exchange.
The U.S. Second Circuit Court of Appeals yesterday gave the holdouts until April 22 to respond.
Argentina is fighting a lower-court ruling that could force it to either pay the holdouts the full value of the defaulted debt—something it has said it will never do—or default on its 2005 and 2010 exchanged debt, which was issued in New York. The Second Circuit has already ruled against the country once, and at a February hearing, a Second Circuit panel expressed skepticism about Argentina's arguments.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.