Solutions For Argentine Bondholders Following Argentina’s Default Yesterday

Author:Mr Peter Wood and Sergio Anania
Profession:Withers LLP

Following last minute talks in New York, as of yesterday Argentina is in default on its debt. A group of creditors - so called 'vulture funds' - are owed over $1.3billion worth of debt, dating back a decade since Argentina's 2001 default. Standard and Poor have cut the country's rating to 'selective default' meaning Argentina has chosen to default on some of its payments.

Joining forces with Garrido Law, Withers has established an alliance of law firms globally to advise any investor who may be affected by this situation. Joining forces with Garrido Law to create The Argentina Bondholders Legal Advisory Team ('ABLAT'), we have brought together local expertise in Argentina, the US and Europe to provide legal advice to the holders of Argentine sovereign and sub-sovereign debt.

We are proactively seeking asset managers working with Argentine sovereign bonds. Several bondholders have not yet initiated the process for demanding their money back. This is a process better done as a group; by joining bondholders in a similar position together, we are better able to represent the group's interests and are more likely to achieve results.

How can we help?

ABLAT brings together international and local experts, and seeks to enforce the rights of bond holders, lobbying on behalf of the group. Withers provides a significant international platform from which to negotiate on behalf of bondholders, while Garrido Law brings both local experience and in-depth knowledge of the last decade's stand off over this debt.

Our advisory solutions

ABLAT will advise holders of Argentine debt regarding the legal situation with their bonds, in light of the...

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