Excerpt
Excerpt
February 7, 2024, Video: "Please join the Center for Global Development to discuss Gregory Makoff’s new book, “Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring.” The book describes the fifteen-year conflict over Argentina’s 2001 default that led to a decade of litigation in U.S. courts and remade the legal framework for sovereign debt financing. Makoff brings readers into the negotiating rooms, the backrooms, and the courtrooms where Argentina’s financial future was decided. The turning point in this drama was the unprecedented injunction by a U.S. court barring U.S. bank from paying consenting creditors who agreed to a deep haircut until Argentina paid the holdout creditors in full."