Second Circuit Rules for Hedge Funds in Argentinian Debt Repayment Case

, The Litigation Daily


After it defaulted on billions in debt a decade ago, Argentina arrived at a repayment plan that prioritized holders of restructured debt. The Second Circuit has now affirmed a groundbreaking injunction that upends that repayment scheme. The ruling could result in a long-awaited $1.3 billion payment to a group of hedge funds led by NML Capital Management and represented by Gibson Dunn's Ted Olson.

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