Another hedge fund sues Argentina for u$s835 mln in defaulted bonds

EM Limited, a hedge fund owned by billionaire Kenneth Dart, has presented a lawsuit against Argentina before New York district judge Thomas Griesa, for u$s835 million in defaulted bonds.

With the initiative, the hedge fund aims at getting a similar sentence as the one issued by Griesa for NML Capital, owned by fellow billionaire Paul Singer.
In 2012, the judge ruled Argentina cannot pay its restructured debt without also paying NML full amount on their defaulted bonds for a sum total of 1,700 million dollars.

That ruling triggered a "technical default" on July 30 when bondholders were not paid, as Argentina deposited the money in a Bank of New York Mellon account, but the financial entity was obliged to block the transfer by Griesa.
[buenosairesherald.com]
24/10/14
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