Elliott, Aurelius To Respond To Argentina Payment Plan

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.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.