Argentina Ordered To Pay Down $1.6B In Old Bonds

Law360, New York (February 23, 2012, 10:48 PM EST) -- A private equity firm owed more than $1.6 billion from Argentina's massive 2001 bond default won a victory Thursday when a New York federal judge ordered the South American nation to make payments on the company's bonds in proportion to what it pays on other debt.

The company, NML Capital Ltd., didn't participate in restructuring deals in 2005 and 2010, when Argentina offered to swap the defaulted bonds for new financial instruments with less favorable terms, instead opting to sue in 2008 for breach of contract....
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