Paul Singers Wins
Forbes Investing The Little Black Book of Billionaire Secrets FEB 29, 2016 Paul Singer Wins Long Battle With Argentina; Have Emerging Market Bonds Hit Bottom? Daniel Fisher , FORBES STAFF I cover finance, the law, and how the two interact. FOLLOW ON FORBES (969) Paul Singer ‘s Elliott Associates and a handful of other holdouts scored a near-total victory over the Republic of Argentina as that country agreed to pay $4.75 billion — three-quarters of what they were owed — to settle claims over defaulted government bonds. The settlement represents the price Argentina had to pay to re-enter world credit markets after losing a pivotal appeal to the U.S. Supreme Court in 2014. And it could increase confidence in other emerging-market debt as investors begin to reassess the ability and willingness of countries to pay interest on their beaten-down bonds. ...