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Feb

07

Argentina Reaches Debt Deal With 2 Hedge Funds

By Tony Seruga

Argentina has offered to pay $6.5 billion to a group of hedge funds holding bonds it defaulted on 14 years ago in a historic effort by the nation to put a bitter legal battle behind it.

Montreux Partners and Dart Management, two of the hedge funds, have accepted the proposal, which would pay three-quarters of a $9 billion claim on defaulted bonds, according to emailed statements from Daniel A. Pollack, a court-appointed arbiter, and Argentina’s finance ministry…

Argentina Reaches Debt Deal With 2 Hedge Funds

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