Tuesday, 24 November 2015
Last updated 3 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…