Buenos Aires Province's creditors raise lawsuit stakes, add trustee to case
Buenos Aires Province's creditors have stepped up their lawsuit against the region after talks failed last month to restructure US$7.1-billion in foreign debt.
Buenos Aires Province's creditors have stepped up their lawsuit against the region after talks failed last month to restructure US$7.1-billion in foreign debt.
The bondholders have increased their claim by US$1.6 billion and added a trustee of the bonds, US Bank, to the claim, according to documents filed in court for the Southern District of New York.
This reinforced legal measure makes restructuring the province's debt even more difficult. Buenos Aires Province has in default for more than a year.
Talks between the province and its largest international creditors fell through last month after amended debt restructuring proposals, freshly offered by both sides, were rejected.
Creditors sued the province in New York court in March for more than US$366 million in unpaid principal and interest. La Plata has repeatedly extended a deadline for creditors to accept a debt swap offer originally issued in April 2020.
related news
-
Stories that caught our eye: April 26 to May 3
-
Media watchdog says press freedom has deteriorated under Milei
-
EU-Mercosur deal is ‘win-win,’ says Poland’s ambassador to Argentina
-
MercadoLibre weathers Argentina tumult with Mexico, Brazil gains
-
Argentina given roadmap for OECD ascension
-
City officials to meet investors as Buenos Aires weighs global bond sale
-
Central Bank cuts rates to 50% as Milei wrestles inflation down
-
Thousands march on Workers' Day, voicing opposition to Milei's labour reform
-
Milei finally discovers politics
-
Five key points from Milei’s 'omnibus' reform package