April 28, 2005
Billionaire investor Kenneth Dart, who spurned an offer to swap defaulted A
Billionaire investor Kenneth Dart, who spurned an offer to swap defaulted Argentine bonds for new securities valued at 30 cents on the dollar, asked a US appeals court to prevent Argentina from exchanging $7 billion of government bonds for new debt. Dart hopes to seize those bonds to collect on a lower court ruling that Argentina owes him $700 million. The case is holding up Argentina's $104 billion debt restructuring, which was scheduled to begin April 1.