NEW YORK, Aug 28 (Reuters) - A unit of billionaire Paul Singer’s Elliott Management, which is Argentina’s main holdout creditor, is extending its legal fight with the South American nation to China, Thomson Reuters IRF reported on Thursday.
NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on $6.8 billion in financing for deals signed by the two countries in July, the IFR story said.
“We want to understand the mechanics of these credit facilities to establish whether assets to which Argentina has a legal title could surface in jurisdictions where we would be able to attach them,” a lawyer advising Elliott told IFR.
The subpoenas are aimed at a facility provided by China Development Bank, ICBC and BOC to finance the construction of two hydroelectric dams in Argentina’s southern Patagonia region and a loan from China Development Bank and ICBC to finance the Belgrano Cargas railway project.
Both deals were signed by Argentine President Cristina Fernandez and her Chinese counterpart, Xi Jinping, during an official visit of a Chinese delegation to Buenos Aires. (Reporting by Davide Scigliuzzo; Editing by Ken Wills)