July 30 NML Capital, one of the two leading
hedge funds involved in Argentina's debt talks, has no comment
on a proposal from the country's banks to commit capital to help
come to a settlement, a spokesman said Wednesday.
In a separate development, the hedge fund and other major
holdouts said in a court filing Wednesday that they oppose a
request to U.S. Judge Thomas Griesa from certain exchanged
bondholders to stay his order to pay holdouts at the same time
as the other investors involved.
According to bank sources and media, a group of private
banks in Argentina was set to guarantee $250 million in capital
as a way to convince NML of Argentina's good faith, and also
convince a judge to reestablish a stay order that would allow
Argentina to negotiate a settlement without paying all
Judge Griesa had awarded NML and others $1.33 billion, plus
interest, and ordered Argentina to pay those hedge funds
concurrently with bondholders who accepted debt restructurings
in 2005 and 2010. Argentina has refused to pay the holdouts.
(Reporting by Daniel Bases and David Gaffen; Editing by James