Tag: NML Capital Limited

• Thursday, April 14th 2016 - 05:48 UTC

  US court opens the way for Argentina's return to world money markets

  

  The United States Court of Appeals paved the way on Wednesday for Argentina to raise billions of dollars to pay a group of hedge funds, bringing it one step closer to re-entering international markets for the first time in 15 years. In a ruling from the bench, three judges on the court of appeals upheld a ruling by Judge Thomas Griesa of District Court in Manhattan to lift an injunction that had barred Argentina from paying its creditors and eventually led the country to default in 2014.

• Saturday, April 2nd 2016 - 07:04 UTC

  How hedge funds held Argentina for ransom

  

  By Martin Guzman and Joseph E. Stiglitz (*) - Perhaps the most complex trial in history between a sovereign nation, Argentina, and its bondholders — including a group of United States-based hedge funds — officially came to an end yesterday (March 31) when the Argentine Senate ratified a settlement.

• Wednesday, March 9th 2016 - 05:35 UTC

  Argentine Lower House clears the way for a floor discussion of accord with holdouts

  

  After rough discussions, Argentina's Lower House committees on Tuesday managed to clear the holdouts bill for debate with changes proposed by the allied Renewal Front and criticism from Victory Front lawmakers.The bill will reach the floor next week. If it passes, it will then be up for debate in the Senate, where the situation is similar, with the ruling Let’s Change needing help from opposition lawmakers to ensure the bill passes.

• Friday, March 4th 2016 - 07:02 UTC

  Paul Singer will have made a $2.4bn profit with the Argentine defaulted bonds

  

  Elliott Management Corp., a New York-based hedge fund that invested in distressed Argentine government bonds well over a decade ago, will have made a $2.4 billion profit on its wager once this week's settlement is finalized, the Wall Street Journal said.

• Tuesday, March 1st 2016 - 05:05 UTC

  Special Master announces settlement of 15-year battle between Argentina and 'holdout' hedge funds

  

  Daniel A. Pollack, Special Master appointed to preside over settlement negotiations between the Republic of Argentina and its “Holdout” Bondholders, this morning (29 February) issued the following statement:

• Thursday, February 25th 2016 - 06:16 UTC

  Argentina in pre-accord with toughest hedge funds; Special Master Pollack furious

  

  Argentina and a group of hedge funds are nearing a deal that would pay investors about 70% of what they say they are owed, as the government moves closer to re-entering the global bond markets following its 2001 default.

• Saturday, February 20th 2016 - 06:41 UTC

  Griesa prepared to drop injunction if Argentine congress repeals 'lock law'

  

  The judge presiding over a long-running battle between Argentina and a group of New York hedge funds said on Friday that he would lift an injunction that had locked Argentina out of international markets, if certain conditions are met.

• Saturday, February 13th 2016 - 05:40 UTC

  Aurelius hedge fund “baffled” by Argentina's decision to 'continue litigation'

  

  Hedge fund Aurelius Capital Management, one of the major creditors in the Argentine bond litigation who has not agreed to participate in a proposed $6.5 billion settlement, called Argentina's decision to return to court in the dispute “baffling.”

• Monday, January 18th 2016 - 05:52 UTC

  All negotiations with holdout funds will be made public, announced Argentina

  

  Argentina announced that all the details of the negotiation with the speculative funds, taking place in New York, will be made public in order to guarantee the transparency of the process. The news from the Finance Ministry dismissed reports that the holdouts were demanding the Argentine government sign a confidentiality agreement before talks can begin.

• Thursday, December 31st 2015 - 07:50 UTC

  Holdouts subpoena HSBC on Argentina's efforts to raise money abroad

  

  Creditors suing Argentina over billions of dollars in defaulted bonds have subpoenaed HSBC Holdings Plc for information about the country's effort to raise money abroad, a person familiar with the matter said on Tuesday, as reported by Reuters.