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  1. September 3, 2014

    Global giants head for court in Argentine assets wrangle

    The so-called “sovereign debt trial of the century” between Argentina and its holdout creditors came to an end earlier this...

  2. September 2, 2014

    Holdouts give vultures a bad name

    In one corner we have Argentina, serial defaulter. In the other, we have professional “holdouts”, bondholders who refused to...

Special Reports

  1. Latin American Capital Markets

    Capital remains abundant in the Latin American region – for now. Debt issuance is head...
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  1. August 26, 2014

    Argentina retaliates against BNY over debt payments

    Argentina retaliated against Bank of New York Mellon on Monday for refusing to make payments to bondholders in compliance...

  2. August 24, 2014

    Companies fear radical turn in Argentina

    When President Cristina Fernández confidently praised Argentina’s financial system as “one of the most solid in the world”...

  3. FT Alphaville

    August 20, 2014

    Escape from New York, pari passu edition

    “I’m a little nervous,” the President of Argentina told the nation on Tuesday night. We’ll bet. President Cristina Fernandez...

  4. July 31, 2014

    Hopes remain of deal on Argentine debt

    Argentina’s debt saga has been dragging on for more than 12 years and, with the country slipping back into default on...

  5. July 31, 2014

    Tough Judge Thomas Griesa weighs Argentina’s fate

    Before taking on Argentina’s debt exchange, Judge Thomas Poole Griesa’s most famous case involved a failed New York highway...

  6. FT Alphaville

    July 31, 2014

    Argentina, default, and the prisoner's dilemma

    That was the Argentine economy minister, Axel Kicillof, shortly before pixel time, having announced a (rejected) ‘offer’ of...

  7. July 30, 2014

    Q&A: Argentina on the brink of default

    Argentina will default by the end of Wednesday unless it makes a $539m interest payment on its performing bonds. The...

  8. FT Alphaville

    July 29, 2014

    The get out of RUFO free card

    Update – Midnight UK time: Argentine press was reporting at pixel time that the country’s banks may provide collateral to...

  9. FT Alphaville

    July 29, 2014

    Rearranging the ISINs on the Titanic

    We are one day away from Argentina’s second default this century. Drama or farce? Farce. For all the confusion that was on...

  10. FT Alphaville

    July 28, 2014

    Further reading

    Elsewhere on Monday, - Benchmark blues. - The bastard love-child of snooping and high-level mathematical theory. - Judge...

  11. beyondbrics

    July 24, 2014

    And if Argentina defaults. What then?

    Who will jump first in Argentina’s game of chicken with its holdout creditors as they race towards the abyss of sovereign...

  12. FT Alphaville

    July 22, 2014

    Exorbitant privilege, meet pari passu

    With less than a fortnight until Argentina risks defaulting on its restructured debt, there will be another hearing in the...

  13. FT Alphaville

    July 22, 2014

    The RUFO persecution complex

    “Madmen in authority, who hear voices in the air,” Keynes wrote at the end of the General Theory, “are distilling their...

  14. July 7, 2014

    Creditors offer Argentina breathing room in debt restructuring dispute

    Holdout investors who rejected Argentina’s debt restructurings in the wake of its $95bn default have said they are prepared...

  15. July 3, 2014

    Argentina bond investors challenge long arm of US law

    A group of investors in Argentine bonds denominated in euros and governed by UK law is seeking to strike down a New York...

  16. beyondbrics

    July 1, 2014

    Corruption charges add to Argentina's debt woes

    It hasn’t been a good few days for Argentina’s government. First, a New York court ruled to block payments on its...

  17. June 30, 2014

    Argentina lashes out at US over ruling to block interest payments

    Argentina called a US court decision to block payments on its restructured debt a violation of international law and an...

  18. FT Alphaville

    June 30, 2014

    ALL-CAPS PARI PASSU

    Dear Cleary Gottlieb (Argentina’s lawyers): good luck defending this one. From page 7 of Monday’s dead-tree FT — Argentina’s...

  19. June 29, 2014

    Argentina in default as contest with holdouts enters endgame

    Barring a last minute deal with holdout creditors, Argentina will on Monday enter technical default for the second time in...

  20. June 27, 2014

    Argentina’s payment illegal, says US district judge

    Argentina looked headed for technical default on Monday after a federal judge said the country’s attempts to meet interest...

  21. June 26, 2014

    Argentina deposits $832m to pay bonds

    Argentina has deposited $832m to meet interest payments on restructured debt by a Monday deadline in its latest attempt to...

  22. FT Alphaville

    June 26, 2014

    Your move, Argentina

    Judge Griesa has denied Argentina’s request to stay the pari passu order beyond June 30 (below). Argentina has said that...

  23. beyondbrics

    June 24, 2014

    Just imagine - an Argentina without holdouts!

    Imagine an Argentina without holdouts – “it isn’t hard to do”, as John Lennon might sing. Investors are already doing so....

  24. FT Alphaville

    June 23, 2014

    A letter to Judge Griesa

    Delivered by Cleary Gottlieb on Monday — and freshly tweeted by La Presidenta. Click to enlarge: This is after Judge Griesa...

  25. FT Alphaville

    June 21, 2014

    There goes the "no pasaran" plan

    Here’s the order which Judge Thomas Griesa made late on Friday, forbidding Argentina from swapping its restructured...

  26. June 19, 2014

    Argentina’s fight with creditors fails to spoil investor appetite

    Argentina stands on the brink of default, engaged in one of the ugliest fights ever witnessed between a country and its...

  27. June 18, 2014

    Argentina serves opening gambit to avoid default

    Many years ago, when Argentina was still considered a powerful economy and was yet to cement its reputation as a serial...

  28. June 18, 2014

    BNY Mellon stuck in global debt saga

    This week’s decision from the Supreme Court means that Bank of New York Mellon, the trustee for the disputed Argentine...

  29. FT Alphaville

    June 18, 2014

    They shall not pass (but let's try and reroute our bonds around them anyway)

    We cannot allow that we are prevented from honouring our commitments to 93 per cent of bondholders. We are going to initiate...

  30. FT Alphaville

    May 31, 2014

    Recalcitrant, moi? The courtroom version

    On Thursday, we reported on a memo by Cleary Gottlieb, lawyers to Argentina in sovereign debt matters. The memo suggested...

  31. beyondbrics

    March 10, 2014

    Guest post: Argentina's day in court [corrected]

    By Samuel George of the Bertelsmann Foundation On February 18 the Republic of Argentina submitted a petition to the US...

  32. November 17, 2013

    Debt holdouts put Argentina on spot

    For the last two centuries or more, creditors have often resorted to desperate measures when countries refused to pay up,...

  33. FT Alphaville

    October 16, 2013

    Stay, go, pay, pari passu

    In which, regardless of recent calls on Argentina to negotiate on an amount to pay its holdouts in the pari passu case (or...

  34. FT Alphaville

    October 4, 2013

    Swap ye not Argentine bonds

    IT IS HEREBY… DECLARED that for the avoidance of doubt (i) the implementation of the plan to allow Exchange Bonds to be...

  35. FT Alphaville

    May 23, 2013

    Pari passu's peso problem?

    UPDATE (Friday) – Judge Griesa said he won’t comment on Citibank’s request, at least until the Second Circuit’s final ruling...

  36. beyondbrics

    April 25, 2013

    Argentina holdout saga: who has a dog in the fight?

    Hold on – or should that be hold off, please – holdouts. As the pari passu (equal footing) saga over Argentina’s defaulted...

  37. FT Alphaville

    April 15, 2013

    Cristina and the Supremes

    Fresh off the US Supreme Court’s order list on Monday: Needless to say this is not the pari passu case. The Supreme Court is...

  38. FT Alphaville

    April 3, 2013

    Les holdouts misérables

    As the pari passu saga in New York rattles towards its end… (or is it?) The contest of wills and/or highly-paid lawyers...

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