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LatinNews Daily - 13 July 2020

Colombian gov’t ordered to explain US military presence

Argentina: On 7 July, Loretta Preska, a judge from the Southern District of New York district court, ordered Argentina to pay US$224m to two investment funds for the repayment of bonds that the country defaulted on in 2001. Argentina was ordered to pay US$156m to Trinity Investments and US$67.9m to Attestor Master Value for bonds issued between 1997 and 2001, which had been purchased by the funds between 2013 and 2014. The repayment of these bonds had not been included in the restructuring offers of 2005 and 2010. The ruling comes as the Argentine government led by President Alberto Fernández seeks to restructure US$$66bn of sovereign debt held by foreign bondholders, having presented its latest formal restructuring offer to the US Securities and Exchange Commission (SEC) on 6 July.

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