Fund Seeks Argentina Space Contracts In $1.5B Debt Row

Law360, Washington (March 26, 2014, 7:09 PM EDT) -- The hedge fund NML Capital Ltd. launched a suit in California federal court on Tuesday asking the court to seize two satellite launch contracts between Argentina and contractor Space Exploration Technologies Corp. as compensation for more than $1.5 billion in defaulted Argentine bonds held by NML.

The hedge fund run by the billionaire Paul Singer claims it is entitled to two launch services contracts between Argentina and Los Angeles-based SpaceX as part of its ongoing attempt to collect on Argentina’s 2001 debt default.

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