Province of La Rioja Bondholders File for Summary Judgment Against the Province
Retrieved on:
Monday, July 26, 2021
The action, filed in the U.S. District Court for the Southern District of New York, began the process of obtaining formal money judgments against the Province.
Key Points:
- The action, filed in the U.S. District Court for the Southern District of New York, began the process of obtaining formal money judgments against the Province.
- The petition for summary judgment is based upon uncontested facts against which the Province has no valid defenses.
- Despite its acknowledgment of default, the Province has failed to constructively engage with its bondholder representatives to negotiate a consensual debt restructuring.
- SOURCE Beauregarde Holdings LLP, Beauregarde Holdings II LLP, Sandglass Opportunity Fund LP, Sandglass Petrus Opportunity Fund LP, and Sandglass Select Fund LP