Argentina Bondholders Keep Faith Seeking Waiver of Clause
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Argentine bondholders are keeping the faith that the 13-year legal dispute preventing the government from paying its obligations can still be resolved.
Creditors with at least 7 billion euros ($9.3 billion) of restructured Argentine debt are planning to ask fellow holders this week or next to waive a clause in their bond contracts that the nation says is prolonging the deadlock, according to Christopher Clark, an attorney representing the group. Agreement from 85 percent of creditors is needed to waive the Rights Upon Future Offers, or RUFO, clause that expires on Dec. 31.