News Topic: Sovereign Debt

The title pretty much sums it up, but this fastFT article gives a few details. The short of it: $4.65 billion to the group of holdouts led by NML (a roughly 25% haircut, reportedly), with the payment still requiring legislative approval in Argentina. ... Read full article

Supplementing Mark's post , here are the many magic words, in order of their appearance in the Order ... reliving the saga like it was yesterday. ... Read full article

"Put simply, President Macri's election changed everything." So sayeth Judge Griesa, according to Bloomberg , which reports that he will lift the injunction once Argentina repeals laws blocking payment on defaulted debt. ... Read full article

The ending of the  pari passu  saga was destined to be somewhat messy, if only because it would force the court to confront the fundamental illogic of the injunction. If we accept that each holder of bonds untendered in the 2005 and 2010 exchanges has a ... Read full article

Reports indicate  that Russia has filed a lawsuit against Ukraine to collect on its $3 billion debt--not in arbitration , as early signs had indicated, but in the High Court in London. ... Read full article

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The Russian government has announced  announced that it plans to initiate legal proceedings against Ukraine by the end of the month to recover the $3 billion in bond debt now in default. It's not yet clear whether the proceedings will be in English ... Read full article

Over at Dealb%k . ... Read full article

So the shoe has finally dropped. IMF policy has been not to lend to countries that have arrears to official creditors. ... Read full article

After months of fielding criticism for standing idly by while Puerto Rico sank under a $72 billion debt heap, the Obama Administration is getting creative. On October 21, the U.S. Treasury, the Department of Health and Human Services, and the National ... Read full article

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Sovereign debt has traditionally been contrasted with corporate debt. Unlike corporations, sovereigns are immune from suit and asset seizure. Unlike corporations, sovereigns can't reliable promise a lender that it will have seniority over other ... Read full article

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Much has been going on, although little has actually  happened , in the litigation against Argentina. For instance, the court has allowed the plaintiffs to file an amended complaint  seeking an injunction blocking payments on the recently-issued BONAR ... Read full article

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As Melissa has noted , the First Circuit has found that the Commonwealth's attempt to solve its own problem runs afoul of Congress' "intent" to leave Puerto Rico without a municipal bankruptcy system. ... Read full article

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