(10.Oktober) The fund is trying to collect US$5 billion in debt incurred 40 years ago by an unelected military government.(…)
The fund, Gramercy, purchased the defaulted debt in 2008 for pennies on the dollar and is now demanding full repayment.
The tactic is similar to one employed by another U.S. hedge fund, Elliot Management, which has tried to use the U.S. legal system to compel the government of Argentina to repay the full amount of its own defaulted bonds.