Securities Law News

Argentina Asks Hedge Fund to Wait on New Leader Before Suing (1)

Dec. 6, 2019, 3:34 PM

Argentina tried a novel defense as a fourth hedge fund tried to sue it: asking the investors to wait until the country’s new president is sworn in.

The London suit began with three funds -- Palladian Partners LP, HBK Master Fund LP and Hirsh Group LLC that allege the country manipulated its economic figures to avoid making payments on gross domestic product-linked securities. Virtual Emerald International Ltd. was allowed to join the group Friday, taking the claim to 602 million euros ($668 million) plus interest.

Argentina said in its court filing that it didn’t oppose or support the addition...

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