Negotiations Between Argentina and Hedge Funds To Restart In 2015

Negotiations Between Argentina and Hedge Funds To Restart In 2015

Despite the acrimonious words from both sides in the many months of the ongoing Argentinian bond default crisis, it appears that they are still willing to talk. According to an October 13th article in FINalternatives, attorneys for both sides in the Argentina-hedge fund debt dispute are prepared to meet to discuss the initial steps for a resolution to the default crisis next year.

U.S. court-appointed mediator Daniel Pollack is planning meetings with both sides this week to hash out the agenda for negotiations in January. The key timing issue is that the rights upon future offers (RUFO) clause in Argentina’s restructured debt—which prevents it from making a deal with the hedge funds—expires at the end of the year.

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RUFO bars deals with hedge funds

Argentina argues the RUFO clause in its earlier restructured debt prevents it from making a better deal with holdouts from its 2005 and 2010 d