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Argentina Seeks To End Hedge Fund’s $84M Bond Suit

Law360 (April 19, 2019, 5:09 PM EDT) -- The Argentine government urged a New York federal judge Thursday to toss a suit brought by distressed debt titan Aurelius Capital seeking $84 million over unsettled securities payouts due six years ago, arguing that the hedge fund’s calculations are “erroneous” and the payment “unwarranted.”

Aurelius Capital Master Ltd. accused Argentina of breach of contract for not making the agreed-upon payments in 2013 as part of the country’s gross domestic product-linked securities issued in two note swaps offered in the wake of its 2001 financial crisis.

Argentina contended that according to the governing document for those securities, known as the Global Security,...

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Case Title

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Case Number

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Court

New York Southern

Nature of Suit

Contract: Other

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Date Filed

January 14, 2019

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