Argentine Utility Files SEC Complaint Over BNY, Siemens Feud (1)

Argentine power supplier Stoneway Capital Corp.has filed a complaint with U.S. regulators against Bank of New York Mellon Corp. and Siemens AGfor allegedly notifying the company’s debt holders that it had defaulted on loans when it hadn’t, people with direct knowledge of the situation said.

Stoneway is accusing Siemens of prematurely sending a default notice to BNY Mellon, the trustee of its notes, to gain leverage in a dispute over some long-delayed power plants, the people said, asking not to be identified because the information isn’t public. In a letter that was sent to an attorney for BNY ...