The long 2nd Circuit Court saga between Argentina and hedge funds commonly referred to as “vulture funds,” will likely come to an end soon. Judges in the 2nd US Circuit Court of Appeals gave holdout funds until April 22, 2013 to respond to Argentina’s payment plan. In late March, Argentina outlined a payment plan that would give holdout creditors virtually the same deal that 93 percent of creditors took in 2005 and 2010 debt swaps.
“We’re following the due process. And yet this due process is giving advantage to the rich claimants who continue to occupy and build structures inside the Ancestral Land of the Atis in Boracay. We might end up without a land of our own.” – Delsa Justo, Chief of Boracay Ati Tribal Organization BATO)