Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring
Argentina defaulted, a hedge fund seized a warship, and the courts spent fifteen years sorting it out.
Gregory Makoff follows the litigation over Argentina’s defaulted debt, the holdout creditors who refused every restructuring, and the New York judge whose rulings reshaped how sovereign default works. It doubles as background for anyone trying to understand how a country actually renegotiates its debts, and what leverage a determined creditor holds.
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Tyler Cowen
Gregory Makoff, Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring. This is both a good book on how the law handles sovereign defaults and useful background to what Milei is trying to undo in Argentina.
Source · May 2024
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