S.&P. Says Argentina Has Defaulted
After more than five hours of mediated talks between the government and the hedge funds on Wednesday, neither side appeared closer to a deal.
View ArticleArgentina Finds Relentless Foe in Paul Singer’s Hedge Fund
A court has ruled that unless Argentina settles a debt dispute with a hedge fund, it is barred from paying its main bondholders.
View ArticleArgentina Is in Default, and Also Maybe in Denial
For a nation that went through a devastating default 13 years ago, the collective memory of what a real economic default feels like is still fresh.
View ArticleMorning Agenda: Markets Fall but Strategists Shrug
The stock market ended July with a dive but analysts were upbeat. | Argentina may be in default but also may be in denial. | A popular prepaid money card has opened a path to fraudulent schemes. |...
View ArticleArgentina Default Is Ruled a Credit Event for Swaps
The International Swaps and Derivatives Association says Argentina’s failure to make a payment on its bonds earlier this week will activate credit default swaps on the country’s debt.
View ArticleArgentina Ordered to Resume Talks With Hedge Fund
A federal judge said talks would have to continue with a group of hedge funds that hold Argentina's bonds. Otherwise, the judge said: "What is to happen? Another 10 years of irresolution?”
View ArticleJudge Threatens Argentina With Contempt Over Its Statements
A federal judge in New York told Argentina to cease making “false and misleading” statements that it did not default on July 30.
View ArticleHedge Fund Holdouts Fail to Reach Private Deal Over Argentine Debt
Aurelius Capital Management said that a deal involving private banks was no longer on the table.
View ArticleArgentina Seeks to Sidestep U.S. Court in a Bond Dispute
A draft bill would allow foreign investors holding Argentine debt to swap their defaulted bonds for new ones subject to local law.
View ArticleArgentine Economist Says Bond Holdouts Should Be Paid
Domingo Cavallo, the architect of Argentina’s 2001 debt restructuring, says the country should comply with a U.S. judge's decision.
View ArticleCitigroup Tells Appeals Court of Its Argentina Quandary
"We’re going to obey, and if we obey, we have a gun to our head and the gun will probably go off,” says a lawyer for the bank.
View ArticleCourt Dismisses Citibank Appeal in Argentina Case
Citigroup's next step is to go return to Federal District Court to argue that the court's order preventing it from paying Argentine bondholders leaves it facing severe sanctions from Argentina.
View ArticleJudge Grants Temporary Stay in Argentina Default Case
The ruling by Judge Thomas P. Griesa of the Federal District Court in Manhattan allows Citigroup to make a $5 million payment to bondholders.
View ArticleDebt Dispute Between Hedge Funds and Argentina at Impasse
Argentina made an informal offer to settle a debt dispute with a group of New York hedge funds, but the country is still asking the bondholders to accept less than they are seeking.
View ArticleArgentine Debt Dispute Remains Murky Even as London Court Sheds Some Light
A judge rules that $257 million set aside to pay Argentine bonds is governed by English law. But the judge did not rule that money could pass to the bondholders.
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