Argentina Reaches Partial Deal on Debt, But Holdouts Remain
- Montreux Partners, Dart Management accept settlement offer
- Past offer had imposed losses of 70 percent on defaulted bonds
Paul Singer, president, co-chief executive officer, and co-chief investment officer of Elliott Management Corp.
Photographer: Jacob Kepler/BloombergThis article is for subscribers only.
Argentina reached preliminary accords with two of the six biggest creditors that successfully sued the country over its $95 billion default in 2001 yet the leader of the so-called holdout funds, billionaire Paul Singer’s Elliott Management, wasn’t among them.
Montreux Partners LP and Dart Management Inc. accepted the offer, which would settle demands for $9 billion at an average 75 cents on the dollar, depending on the nature of the investor’s claim.