News Topic: Sovereign Debt

As expected , Judge Griesa has reportedly denied Argentina's request for a stay. ... Read full article

Yesterday's post noted that, by asking Judge Griesa to re-impose a stay of the injunction, Argentina was effectively asking for permission to pay exchange bondholders on June 30 without making any payment whatsoever to NML and the other plaintiffs. ... Read full article

Argentina will negotiate with NML. Or maybe it won't . ... Read full article

A footnote to Mark's recent post on Argentina's remaining options got me thinking about what an Event of Default actually is under the exchange bond indenture. From a reasonably quick look at the (lengthy) documents, I think there might be a ... Read full article

So, Argentina lost its bid to have the Supreme Court overturn the injunction. It also has a payment due exchange bondholders on June 30. Recall that the Second Circuit stayed enforcement of the injunction so that the Supreme Court could consider ... Read full article

It's done!  As Mark has chronicled , the U.S. Supreme Court has drawn the curtain on the pari passu drama, and separately has rejected Argentina's appeal to limit the scope of discovery by creditors with judgments against it. I am still ... Read full article

In other news, the Supreme Court has also ruled against Argentina on the merits in its discovery dispute with NML. Refresher posts  here and here . ... Read full article

Order denying cert here . More on this later, of course. The next payment on the exchange bonds is due June 30, I believe. ... Read full article

There has been some recent excitement over a leaked memo penned by Argentina's lawyers at Cleary Gottlieb. ... Read full article

On Monday, lawyers for NML and Argentina (with a cameo by lawyers for the US Department of Justice) were before the Supreme Court arguing about the scope of a US court's power to order discovery in aid of execution. ... Read full article

About a month ago, smart folks  zeroed in on a single clause in Russia's two-year $3 billion loan to Ukraine . The December 2013 loan was  ... Read full article

About a month ago, smart folks  zeroed in on a single clause in Russia's two-year $3 billion loan to Ukraine . The December 2013 loan was  ... Read full article

On Monday, lawyers for NML and Argentina (with a cameo by lawyers for the US Department of Justice) were before the Supreme Court arguing about the scope of a US court's power to order discovery in aid of execution. ... Read full article

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Today is the day for filing amicus briefs with the U.S. Supreme Court in  NML v. Argentina (pari passu case). Brazil, France, Mexico, the Jubilee Network and Nobel Laureate Joseph Stiglitz are all asking the court to take the case. ... Read full article

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A grand tour of several percolating global restructuring issues, including Greece, the Ukraine, TXU, and, Mark and Anna's favorite, Argentina. Over at Dealb%k . ... Read full article

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