January 29, 2013
Jan 29 (Reuters) - A group of Argentine investors who refused to take part in their country's debt restructurings spoke in New York on Tuesday about how they feel betrayed and mistreated by their government, which is fighting U.S. court orders to pay the holdouts.
Argentina defaulted on $100 billion of foreign debt in 2002, and holdout creditors have won several billion dollars worth of judgments in U.S. courts but have collected almost nothing due to sovereign immunity laws.
About 92 percent of creditors received between 25 percent and 29 percent on the dollar when bond swaps were carried out. Holdout creditors still own roughly $11 billion in defaulted paper, according to private estimates.
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