|The Motions for Final Approval of Settlement and Award of Fees and Expenses are in the Case Documents Section of this Website.|
This website has been established to provide general information to individuals and institutions that have, prior to December 19, 2006 purchased or otherwise acquired beneficial interests in the bond issued by the Republic of Argentina, with ISIN XS0113833510, due July 20, 2004, and a coupon rate of 9.25% (the "Bond" or "Bonds") and have held interest continuously through the present.
A settlement in this class action has been reached between the plaintiffs and Argentina that provides that Argentina will pay each class member 150% of the outstanding principal amount of their Bonds (the “Settlement”). This amount would be reduced by attorneys’ fees and/or expenses awarded to Class Counsel by the Court.
The Settlement resolves each class member’s claim against Argentina concerning the Bonds, and, if approved by the Court overseeing this action, would end this litigation against Argentina with respect to the beneficial interests in the Bonds held by the class members.
A class was previously certified by the Court in each of the eight cases, and notice and an opportunity to opt-out of the certified class already provided. The Class certified by the Court consisted of all persons who on or before December 19, 2006 purchased or otherwise obtained beneficial interest in the Bond and hold those interest through final judgment.
The Class now consists of all individuals or entities that held a beneficial interest in the Bond from December 19, 2006 and have continuously held that interest to today, except for class members that opted out on or, before February 16, 2016, filed their own lawsuit or arbitration against Argentina with respect to the Bond. The Class is described in more detail below. You are or may become a member of the Class. If you are a member of the Class, you are entitled to participate in the benefits that have been obtained for the Class as a result of this lawsuit.
In the case of individuals or family offices, the requirement for continuous holding is met even if there have been transfers among immediate family members. Likewise, transfers from one bank or brokerage company to another will not affect whether there is a continuous holding so long as the accounts at the different banks or brokerage companies were held by the same person, entity, or members of the same immediate family.
In February 2016, Argentina announced a settlement offer to all eligible holders of defaulted Argentine debt. The settlement offer that Argentina has extended to the public also provides for payment of 150% of outstanding principal. The Notice of Proposed Class Settlement sets forth information relevant to members of the Classes that wish to receive compensation from Argentina pursuant to the terms of the settlement offer.
|Your Legal Rights and Options in this Lawsuit|
|STAY IN THE CLASS AND CLAIM A SETTLEMENT PAYMENT||This is the only way to get any payment or benefits from the Settlement. If you wish to participate in the Settlement, all you need to do is to complete and submit a Settlement Claim Form and hold your Bond until you are paid from the Settlement Fund.
You can submit a Settlement Claim Form even if you also intend to file an objection.
|A Settlement Claim Form must be received by September 1, 2016 to be eligible for any payment from the Settlement Fund.|
|OBJECT||Write to the Court about why you don’t like the Settlement. Instructions for objecting appear on page 6 of the Notice.
You can file an objection even if you also submit a Settlement Claim Form.
|Objections must be received by the Court by October 21, 2016.|
|GO TO A HEARING||Ask to speak to the Court about the fairness of the Settlement.||Request to speak at the hearing to determine the fairness of the Settlement must be received by October 21, 2016.|
|DO NOTHING||If you do nothing and the Settlement is approved, you will not receive a Settlement payment.|
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Proposed Class Settlement. We recommend that you read the Notice and other relevant case documents carefully.