Argentina, holdout creditors reach $4.6 bln agreement

Argentina and its main holdout creditors have reached a $4.653 billion agreement in principle to settle a 15-year-old sovereign debt default dispute, a deal that could help the country to return to international capital markets and revive its economy.

US judge orders Argentina to pay US$1.4b to hedge funds. Argentina has already petitioned the US Supreme Court to review the case.

A US appeals court judge ordered Argentina on Friday to pay US$1.47 billion to hedge funds holding its defaulted bonds, quashing an appeal by Buenos Aires against the initial 2012 judgment.

NEW YORK: A US appeals court judge ordered Argentina on Friday to pay US$1.47 billion to hedge funds holding its defaulted bonds, quashing an appeal by Buenos Aires against the initial 2012 judgment.
The judge endorsed the original decision that Argentina must compensate two hedge funds, NML Capital and Aurelius, for 100 per cent of the value of defaulted Argentine government bonds they hold even though the two declined to take part in a restructuring of the debt.