Argentina loses last-ditch battle to block $300mn seizure in US

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Financial Times 2d ago

Argentina loses last-ditch battle to block $300mn seizure in US - Financial Times

Quick Summary:

A separate group of holdouts from the 2001 default once embarrassed Buenos Aires by briefly seizing an Argentine navy vessel in a port in Ghana in 2012, and also seized $70mn from the country.

By far the largest judgment facing Argentina is $16bn awarded by a New York court in 2023 to former shareholders in YPF, which was renationalised by the Argentine government in 2012.

The claimants in the case are a group of investment funds that owned bonds affected by Argentina’s massive 2001 sovereign debt default, which were never exchanged despite three rounds of restructurings and settlements in 2005, 2010 and 2016.