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There was no such supermajority clause in the Argentine bonds that were restructured.
For many, that was just long enough to have missed, in some cases by a few days, the vesting requirements that were restructured after the labor dispute that interrupted the 1981 season.
The $539m payment was for bonds, issued under US legislation, that were restructured following Argentina's default in 2002.
Similar(54)
NTL, the British cable company that is restructuring $17 billion in debt, is close to a deal that would have bondholders take control of the company, people involved in the talks said.
The company also said it might have to write down the value of a 752 million euro ($757 million) loan it made to MobilCom, a German wireless carrier and customer that is restructuring its financing.
NTL, the cable company that is restructuring about $10.6 billion in debt by converting it to equity, is continuing to negotiate with its banks, which have yet to accept the deal.
In this case, you will participate in a detailed tax-planning exercise involving a multinational corporation that is restructuring its tax operations.
Williams' fund, one of the Excelsior funds advised by U.S. Trust, has 60% of its holdings in firms that are restructuring their balance sheets, selling divisions, laying off employees and the like.
"It is a classic case of a company that is restructuring," he said.
Clariant in Switzerland is another company that's restructuring, as is Bayer of Germany.
He said that after banks were restructured, the shares would be sold back to the private sector.
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