Argentine creditor calls country's return to U.S. court 'baffling'

Fri Feb 12, 2016 11:47am EST
Argentine creditor calls country's return to U.S. court 'baffling'

NEW YORK | By Nate Raymond

A major creditor in the Argentine bond litigation who has not agreed to participate in a proposed $6.5 billion settlement on Friday called the country's decision to return to court in the dispute "baffling."

Hedge fund Aurelius Capital Management issued the statement after Argentina on Thursday asked a federal judge in New York to vacate orders restricting it from servicing its restructured debts in light of last week's settlement offer by the country.

Mark Brodsky, Aurelius' chairman, said given "the choice between accepting the substantial haircut we have offered, continuing negotiations, and litigating, Argentina chose to litigate."

"This is a baffling continuation of the failed strategy of the past," he said in a statement.

More:
http://www.reuters.com/article/us-argentina-debt-idUSKCN0VL1RS