The Holdout Saga: Season Finale

The Holdout Saga: Season Finale

Argentina Bonds Corporate & Sovereign Strategy

Despite the complexity of the case, there are not many options open to the different parties involved in the Argentine holdout saga. Should Argentina fail to secure a stay, the country is prepared to face a selective default on the bonds affected by Judge Thomas Griesa’s injunction, in order to avoid payments to holdouts triggering the Right Upon Future Offers (RUFO) clause included in the original bonds, leading to the failure of the 2005 and 2010 exchanges. The holdouts know this and have beco

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