Argentina Returns to Bond Market after Debt Settlement (tags)
Argentina returns to the bond market after 15 years with access to limited international financing.
International Monetary Fund Releases Plans to Stop Predatory Hedge Funds (tags)
The International Monetary Fund (IMF) released new proposals for preventing predatory hedge funds and hold-out investors from blocking debt restructurings. The paper proposes a series of reforms to debt contracts, including strengthened collective action clauses and a modification of the pari passu clause that hold-out hedge funds used to sue Argentina.
UN Treaty Could Enact Global Bankruptcy Process and Stop Predatory Funds (tags)
The UN General Assembly votes Tuesday on a convention that could enact a global bankruptcy process and stop predatory hedge funds. Bolivia proposed the resolution that if voted upon is expected to pass by a majority. The executive board officers of Jubilee USA sent United States UN Ambassador Samantha Power a letter urging her to support the resolution. Jubilee's 400 US faith communities are holding the Ambassador in prayer as she prepares to vote.
Banks and Investors Call for New Debt Rules In Wake of Argentina Hedge Fund Case (tags)
The International Capital Market Association (ICMA), a group of banks and investors, will call Friday for reforms aimed at preventing repeats of the Argentina/NML Capital debt dispute.
Argentina Debt Payments Blocked by US Court (tags)
The Argentine government announced Thursday that it transferred funds to the Bank of New York Mellon to pay the 92% of bond holders who restructured after Argentina's 2001 default.
Supreme Court Considers Taking Hedge Fund/Argentina Case with Global Poverty Impacts (tags)
The US Supreme Court is considering whether or not to accept an international debt case that will impact global poverty and poor country access to credit.
Argentina Payment Plan Would Protect Poor Hedge Fund Holdout - NML Capital - has Until Apr (tags)