Argentina's Default on Rescheduled Debt: Different Perspectives

10 Pages Posted: 12 Oct 2014

See all articles by Christine Sinapi

Christine Sinapi

Univ. Bourgogne Franche-Comté, ESC Dijon-CEREN

Arvind Ashta

CEREN EA 7477 Burgundy School of Business - Université Bourgogne Franche-Comté

Marc Pilkington

Université Bourgogne Franche Comté

Date Written: October 1, 2014

Abstract

Argentina's "default" of its rescheduled debt has brought out the multiple vested interests or stakeholders involved. This includes not only Argentina and the vulture funds which are insisting on prioritized full payments, but also the majority bondholders who agreed to rescheduling and the trustee Bank. The many different court processes instigated have shown that legal jurisdiction is also a vested business interest of different countries, notably the US in this case. The paper also looks at other stakeholders including Argentinian businesses, the International Capital Markets Association and the United Nations. In fact, we find that with international capital, we need global governance mechanisms. The paper is written as a pedagogical note for students, and researchers can skip the introduction.

Keywords: Argentina, Debt, default, vulture funds, banking, legal jurisdiction, international finance

JEL Classification: F3, G15, G2, N26, K4

Suggested Citation

Sinapi, Christine and Ashta, Arvind and Pilkington, Marc, Argentina's Default on Rescheduled Debt: Different Perspectives (October 1, 2014). Available at SSRN: https://ssrn.com/abstract=2508367 or http://dx.doi.org/10.2139/ssrn.2508367

Christine Sinapi

Univ. Bourgogne Franche-Comté, ESC Dijon-CEREN ( email )

France

Arvind Ashta (Contact Author)

CEREN EA 7477 Burgundy School of Business - Université Bourgogne Franche-Comté ( email )

29 rue Sambin
21000 Dijon
France

Marc Pilkington

Université Bourgogne Franche Comté ( email )

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