Argentina to Pay $1.1 Billion to Two Creditors to Resolve Debt Dispute

Argentina to Pay $1.1 Billion to Two Creditors to Resolve Debt Dispute © Sputnik/ Anton Denisov

07:08 18.02.2016Get short URL

Argentina will pay $1.1 billion to two of its creditors in order to resolve a long-standing debt dispute, court documents reveal.

MEXICO CITY (Sputnik) – The settlements will be paid to EM Ltd. ($842- $848 million) and Montreux Partners LP ($298,664,000), according to the documents filed in New York federal court on Wednesday and cited by Law 360.

Earlier this month, Argentina offered to pay $6.5 billion to US holdout creditors that would not accept debt restructuring.

Most of Argentina’s creditors agreed to debt restructuring conducted in 2005 and 2010. Two US hedge funds — Aurelius Capital management and NML Capital – refused to accept the deal, prompting US District Judge Thomas Griesa to freeze Argentina’s ability to transfer funds to restructured bondholders until it pays the holdouts in the restructuring.

The ruling forced Argentina into its second default in 13 years.

One comment

  • theunhivedmind

    What did I tell you would start happening once Prince Philip won control over Argentina by screwing over Kirchner using Macri? I told you that Macri would start paying Paul Singer and the vulture funds towards their extortion. Kirchner made sure she wouldn’t back down and fall for the frauds of the Wall Street cretins of the New Venice Empire. Almost instantly Prince Philip’s puppet started to hinder nuclear energy development that was set up between Argentina and Russia. Zeusian Macri is a money changer stooge!

    .·´ ¸.·★¨) ¸.·☆¨)
    ★(¸.·´ (¸.*´ ¸.·´
    `·-☆ The Unhived Mind

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