Argentina Blasts Elliott Over Iran Criticism

Jun 20 2013 | 11:23am ET

The battle between Argentina and its hedge-fund creditors has taken yet another nasty turn.

Argentina is furious over a recent media campaign in the U.S.—reportedly paid for by Elliott Associates affiliate NML Capital—criticizing the country's relationship with Iran. At issue is the January memorandum of understanding between the two countries to investigate the 1994 bombing of a Jewish center in Buenos Aires, which Argentina has blamed on the Iranian government.

Argentina has had six Iranians placed on Interpol's international arrest list and has sought the arrest of a former Iranian president. The standoff has strained ties between the two countries, who maintain diplomatic relations with each other.

The media campaign funded by NML is "unscrupulous" and "libelous," President Cristina Fernandez de Kirchner said, and blasted the hedge fund for using a tragedy that cost 85 lives to "blackmail" the country.

Elliott is battling Argentina in U.S. courts to attempt to force the country to pay the Argentine bonds it holds in full. Argentina defaulted on the bonds in 2001, and most bondholders accepted exchanges with big losses in 2005 and 2010.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...