Sun, Oct 23, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Argentine debt holdouts go public ahead of court date

Thursday, January 31, 2013

Argentine President
Cristina Fernandez de Kirchner
Bailey McCann, Opalesque New York:

Argentine President Cristina Fernndez de Kirchner has some world travel planned, but she won't be doing it on the presidential plane. The plane, Tango 01, has been grounded after the President's lawyer advised her that it might be seized by creditors whenever she lands. Instead, she'll be spending over $800,000 to fly first class to destinations in Asia and the Middle East in a private plane. The plane will cost Argentina about 20% more than it would to fly Tango 01, which is still arguably less than the price to recapture the Boeing 757 if seized. When you're the President of a country coming back from one of the largest sovereign debt defaults in history, who has already had to recapture one of your tall ships off the coast of Africa after it was seized by a well-known hedge fund manager, and who also flatly refuses to pay the debt owed to that manager and many others, this is the math you do.

If you are not now the president of a country in a similar situation, this math might seem crazy, and most of the international community would agree with you. That in of itself might be a sign to take a step back, but, President Kirchner has opted to double......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion