Argentina and the Vulture Funds
Michael H. Moffett
Thunderbird School of Global Management, Arizona State University, USA
Volume 10: 2015, pp. 321-336; ABSTRACT
Argentina defaulted on its sovereign debt in 2001. Since that time it had been shut-out of the international financial markets. Attempts by Argentina to restructure its debt with all of its creditors had failed over the following 13 years, specifically the category of investors the government of Argentina called Vulture Funds. Now, in 2014, New York State courts (with the support of the U.S. Supreme Court), holding jurisdiction over much of the outstanding defaulted debt, was imposing new demands on Argentina in its latest attempts to restructure its debt. Argentina, once again, faced default.
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