South America

Results for South America

Argentina, Bondholder Talks With Mediator Rescheduled For Thursday

Settlement talks set for Wednesday between Argentina and bondholders who did not participate in the country's past debt restructuring have been rescheduled for Thursday, the court-appointed mediator said. Daniel Pollack, a New York lawyer appointed ...

Daily Headline - global.abi.org - 07/23/2014 - 21:27 - 0 comments

U.S. Judge Orders Argentina, Creditors To Meet Until Deal Reached

A U.S. judge ordered Argentina and investors who did not participate in the country's past debt restructurings to meet "continuously" with a court-appointed mediator until a settlement is reached, warning of the threat of a new default, Re ...

Daily Headline - global.abi.org - 07/22/2014 - 21:44 - 0 comments

Portugal Telecom May Sue BES Over Unpaid Family Company’s Debt

Banco Espirito Santo (BES) could be sued over a loan that one of its founding family's holding companies failed to repay to Portugal Telecom, sources said on Thursday, as credit rating agencies downgraded the bank and its key shareholder. Still, Fin ...

Daily Headline - global.abi.org - 07/17/2014 - 21:25 - 0 comments

Judge Approves Chapter 15 Protection For Brazilian Bank

A Florida federal bankruptcy judge on Tuesday approved Brazilian bank Banco Cruzeiro do Sul SA's petition for Chapter 15 bankruptcy, a decision that will provide the bank some protection in United States courts while it continues its primary insolve ...

Daily Headline - global.abi.org - 07/16/2014 - 22:05 - 0 comments

Stopping A Repeat Of Argentine Debt War

As Argentina’s multi-billion dollar showdown with its hedge fund creditors nears its finale, global organisations are trying to hammer out a plan that will prevent such a stand-off from being repeated, the Financial Times reported. For the past six m ...

Daily Headline - global.abi.org - 07/16/2014 - 22:05 - 0 comments

Oi Partners Could Sue Portugal Telecom Over Debt Deal

Some large shareholders in Grupo Oi SA could sue partner Portugal Telecom SA if a debt investment made by the latter ends up in default, which could delay the companies' planned merger, a source close to the deal said, Reuters reported. Shareholders ...

Daily Headline - global.abi.org - 07/15/2014 - 21:28 - 0 comments

Argentina Refusing Talks With Elliott as Default Looms

Less than three weeks before Argentina risks a default, government officials still haven’t met with hedge funds who won a court ruling forbidding the country to make bond interest payments before they get $1.5 billion, Bloomberg News reported. “We have n ...

Daily Headline - global.abi.org - 07/14/2014 - 19:54 - 0 comments

Batista's OSX Brasil Suspends Dutch Unit's Creditor Payments

A Netherlands-based subsidiary of Brazilian tycoon Eike Batista's bankrupt shipbuilding and shipleasing unit OSX Brasil SA suspended payments to creditors after being granted protection by a Dutch court, Reuters reported. According to a securities f ...

Daily Headline - global.abi.org - 07/13/2014 - 23:14 - 0 comments

Some Lessons for Distressed Debt Participants from the Argentina-NML Dispute

The continuing saga between the Republic of Argentina and a hold out group of investors led by NML Capital, an affiliate of Elliott Management in New York, in relation to sovereign bonds issued by Argentina is a fascinating display of what can happen whe ...

Resource Article - abi_admin - 07/10/2014 - 15:42 - 0 comments - 1 attachment

Creditors Offer Argentina Breathing Room In Debt Restructuring Dispute

Holdout investors who rejected Argentina’s debt restructurings in the wake of its $95bn default have said they are prepared to give Buenos Aires extra time to settle, but only if the country negotiates in good faith, the Financial Times reported. Arg ...

Daily Headline - global.abi.org - 07/07/2014 - 23:07 - 0 comments

Syndicate content