Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Argentina Ordered to Pay Interest on Defaulted Debt, Nacion Says

March 5 (Bloomberg) -- A New York court ruled in favor of Elliot Management Corp.’s NML Capital fund and ordered Argentina to pay interest on its defaulted debt, newspaper La Nacion reported, citing a Feb. 23 ruling.

The ruling by U.S. District Judge Thomas P. Griesa said Argentina has to make the payments before or at the same time it pays interest on bonds it issued in its 2005 and 2010 debt restructurings, according to the Buenos Aires-based newspaper. Griesa’s order affects all the parties involved in the debt payments, including banks that make the transfers to bondholders, Nacion said.

Argentina has appealed the order and the decision has been suspended, La Nacion said, citing Jorge Arguello, Argentina’s ambassador in the U.S.

NML is seeking $650 million in capital and interest on its holdings, La Nacion said.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.