Argentina’s 12-year fight to shake off its 2001 financial crisis is in the hands of U.S. judges who assailed its “continual disregard” for creditor rights and refused to overturn lower court orders the nation repay billions of dollars in debt it defaulted on when its economy buckled.
Two lawyers have spent much of the past decade defending Argentina in front of the same U.S. judge in dozens of lawsuits arising from the South American country’s 2001 default on $95 billion in sovereign debt.
Exchange-traded funds that amassed junk bonds at a record pace in the first half of 2012 are now attracting unprecedented cash to buy speculative-grade loans as investors wager that a four-year rally in the notes is ending.
BlueMountain Capital Management LLC and Saba Capital Management LP are leading investors into the debt market’s darker corners to boost returns, buying securities from collateralized loan obligations to bonds that seldom trade.
Paul G. Allen, a Microsoft Corp. co- founder who was once the second-richest American, accused 11 companies including Google Inc. and Apple Inc. of infringing patents he holds for online-shopping technology.
Canada’s commodity shares have fallen to their cheapest prices since the recession, wiping out the stock market’s best start to the year since 2004 as global economic concerns overshadowed the best two-month job growth in more than 30 years.
Caisse de Depot et Placement du Quebec, the pension-fund manager that posted a record loss in 2008, has five of the top 50 equity managers in Canada this year, according to a study by Brendan Wood International .