Paul Singer’s last-ditch attempt to get cash from Argentina
this year has failed, the NY post reports.
A motion by Singer’s hedge fund, Elliott Management, requesting that the
South American country put up a security deposit of $250 million by Dec. 10 was
denied by a federal appeals court yesterday.
“Since we will not have a big payment for ages (if ever),
this looks like a huge blow to [Elliott’s] strategy,” said sovereign-debt
expert Anna Gelpern.
The appellate slap-down of the billionaire hedgie is the
second in a week. Last week, the same panel overturned a decision by a District
Court judge that would have required Argentina to put $1.3 billion in escrow to
pay Elliott by Dec. 15, pending further appeals in a legal battle that has
dragged on for a decade……
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