US hedge fund threatens to sue Peru on defaulted bonds from 1980s

Wednesday, October 14th 2015 - 11:40 UTC

Full article 2 comments

A US hedge fund has threatened to sue Peru over bonds issued by the country's former military regime. Connecticut-based hedge fund Gramercy purchased the defaulted debt at a discount in 2008 after other bondholders failed to reach a deal. Read full article

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Pugol-H
Here we go again, from the 1980s this time. But then more modern bonds don’t allow this, so they can only go further back.

Someone should shoot these fu*kers, put them out of their misery and give the world a break, more particularly the parts of the world that need it.

No one needs these bottom feeders, they have never done anything to enhance the human condition only detract from it.

Time to lose them.
Oct 14th, 2015 - 03:56 pm - Link - Report abuse 0
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Heisenbergcontext
These bonds actually date back to the '60's and were intended to be compensation for land seizures. The debt was issued under Peruvian law, and the subsequent settlements have also been adjudicated under Peruvian law.

There's no doubt in my mind the original bond holders got screwed, but the whole issue', which is really about history and politics - not fiscal responsibility - is something Peru has to deal with. The intervention of Grammercy is simply cynical opportunism.
Oct 15th, 2015 - 01:40 am - Link - Report abuse 0
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