The U.S. Supreme Court rejected an appeal from Argentina over a lower court ruling that Argentina must pay holdouts and the holders of restructured debt at the same time. The case, NML v Argentina, has been coined the “trial of the century” in sovereign debt restructuring.
“This increases holdouts’ leverage dramatically,” said Samples, whose research focuses on investor-government relations in Latin America. “Argentina is going to be more willing to negotiate with the holdouts and the holdouts certainly understand that.”
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