Greek Creditors May File Novel Suit Against Nation–NYT
Some hedge funds may file a novel lawsuit to block any effort by Greece to default and drive the value of their sovereign holdings down–perhaps to zero The New York Times reports that Hedge funds have been known to use…
Some hedge funds may file a novel lawsuit to block any effort by Greece to default and drive the value of their sovereign holdings down–perhaps to zero
The New York Times reports that
Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments.
The novel approach would have the funds arguing in the European Court of Human Rights that Greece had violated bondholder rights, though that could be a multiyear project with no guarantee of a payoff.
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