Argentina Nears $5B Settlement In Default Saga

Law360, New York (February 24, 2016, 11:45 AM EST) -- Argentina is near a $5 billion settlement with creditors including NML Capital and Aurelius Capital Partners that would resolve litigation more than a decade old over the country's debt default, an attorney for the firms told the Second Circuit on Wednesday.

Argentina and the firms have an agreement in place over the economic terms but are still ironing out details such as how the payment would be facilitated, Gibson, Dunn & Crutcher LLP partner Matthew McGill told a three-judge panel. The federal appeals court in Manhattan was hearing motions related to injunctions that dictate how Argentina can deal with creditors....

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