Elliott Argentine Bond Bid Wins Vote of Ex-Bush Official
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Elliott Management Corp., the hedge fund founded by billionaire investor Paul Singer, won support from a former official in President George W. Bush’s administration as it seeks payment on bonds Argentina defaulted on in 2001.
Kenneth Dam, who was deputy U.S. Treasury secretary under Bush, urged the U.S. Court of Appeals in New York last month to uphold rulings directing Argentina to settle in full with Elliott’s NML Capital unit when it makes payments on bonds issued in 2005 and 2010 restructurings. The court is scheduled to hear oral arguments on the appeal the week of June 18.