Judge’s Battle with Argentina: An Inside Look at the Landmark Case That Reshaped Sovereign Debt Markets
New York, NY – Argentina’s notorious history of defaults and legal battles in U.S. courts is highlighted by its largest default to date: a staggering $100 billion in bonds in December 2001. Despite restructuring 76% of this debt in 2005, offering investors just 34 cents-on-the-dollar, approximately $20 billion of the defaulted bonds holders refused to accept the terms and turned to the courts for resolution. What followed was a decade-long legal battle, overseen by Judge Thomas P. Griesa of the United States District Court for the Southern District of New York, who grew increasingly frustrated … Read more