Bond Vultures' Bet Against Argentina Pays Off
Score two for the gamblers. Today the Supreme Court handed a double defeat to the Republic of Argentina in its effort to default on sovereign bonds issued in 1994. That means a double win for NML Capital, that so-called vulture fund that holds $1.33 billion of those bonds bought for pennies on the dollar in the hopes that the U.S. courts would eventually try to make Argentina pay.
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