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A Hedge Fund’s Peru Bond Fight Now Playing at a Theater Near You

  • Peru asked tribunal to dismiss Gramercy’s $1.6 billion claim
  • A movie portraying Peru’s dispute hit U.S. theaters last week
Updated on

A spat between Peru and bondholders over decades-old unpaid debts is playing out in an unlikely place: your local movie theater.

“The Debt,” as the movie is titled, is a fictional account of ruthless Wall Street types who seek to enrich themselves at the expense of the nation’s poorest citizens. While the specifics are different, it has parallels with the real-life dispute between Peru and Gramercy Funds Management, a $6.1 billion hedge fund based in Greenwich, Connecticut.