|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 continuously held a beneficial interest in one or more of the following bonds (the "Class Bonds") from the Start Date listed below until today.
|Description||ISIN Number||Starting Date|
|Argentina 11% Notes due 10/9/06||US040114AN02||January 16, 2004|
|Argentina 7% Notes due 12/19/08||US040114GF14||January 16, 2004|
|Argentina 9.75% Notes Due 9/19/27||US040114AV28||January 22, 2004|
|Argentina 11.75% Notes Due 6/15/15||US040114GA27||February 4, 2004|
|Argentina 11% Notes Due 12/5/05||US040114AZ32||February 4, 2004|
|Argentina 8.375% Notes Due 12/20/03||US040114AH34||February 10, 2004|
|Argentina 12.375% Notes Due 2/21/12||US040114GD65||March 17, 2004|
|Argentina Floating Rate L+0.8125 Notes Due 3/05||XS0043120582||March 16, 2004|
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 Class 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 these Class Bonds, and, if approved by the Court overseeing this action, would end this litigation against Argentina with respect to the beneficial interests in the Class 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 classes was provided in 2005 and the deadline to opt out was in 2008.
The Classes previously certified are defined as all persons and/or entities who, from the Start Date shown above through final judgment continuously held the Bonds, and who have not been a party to legal proceedings against Argentina in connection with the Bonds other than the Action and have not otherwise opted out from the Action.
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 Class 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 7 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.