NML

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D-Day for debt restructuring

Dubbed ‘the sovereign debt trial of the century’,[1] NML v. Argentina saw notorious ‘vulture fund’ Elliot Capital Management face off against ‘rogue debtor’ Argentina. The decades-long case concerned the restructure of more than US$82 billion of debt that fell due during Argentina’s economic crisis of 2001.[2]The debt restructure that followed has been the most acrimonious in recent history.

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