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Komfie Manalo, Opalesque Asia:

Distressed debt hedge fund Aurelius Capital has denied an accusation by Argentina’s Economy Minister Axel Kicillof that the fund is taking part in a lawsuit against Brazilian state-owned oil company Petrobras, according to the Buenos Aires Herald.

Aurelius president Mark Brodsky was quoted as saying, "The lawsuit has been filed by the City of Providence (Rhode Island, US). Aurelius has nothing to do with it."

Kicillof alleged that Aurelius’ participation in the Petrobas lawsuit is a solid proof that the hedge fund is coordinating a "simultaneous attack" against Argentina and Brazil in "a war without weapons with well-defined policy objectives." The attacks, Kicillof said, was an attempt to destabilize the region.

But Brodsky maintained that the lawsuit in the U.S. was "an extension of a criminal probe opened by the Brazilian government." He chided Kicillof for not doing Brazil and Petrobas any favor when he compared Petrobas’ woes with those of Argentina.

Earlier it was reported that Aurelius Capital is targeting at least $54bn in Petrobras bonds governed by U.S. law, as it pushes the oil company to be declared in technical default on some of its foreign debt if bondholders purs......................

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