“A legal tug-of-war with a $20 billion US hedge fund plays out in a New York case that has sent nationalist sentiment soaring in Argentina and raised concerns about the impact on future efforts to help debt-ridden countries recover. NML Capital, part of American billionaire Paul Singer’s Elliott Management, is among a handful of creditors demanding full repayment of bonds that Argentina defaulted on in 2002. In recent months, the government’s inability to settle with a handful of holdouts led by NML has resulted in one of its Navy tall ships being impounded in Ghana and an expensive court case in New York.”
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