Abstract

VAL, Maria Emilia. The actions of the "vulture funds": a characterization based on the conflict with the Argentine Republic. Relac. int. [online]. 2017, vol.26, n.52, pp.163-180. ISSN 2314-2766.

In recent years, so-called "vulture funds" have become one of the main topics in the international political, legal, economic and academic agenda. The Argentine case has shown the consequences of their speculative behavior for sovereign debt restructuring processes of and it has revived the discussion on initiatives to reform the international financial architecture. In this paper, we will describe the vulture strategy, the historical conditions that allowed its consolidation and the evolution of litigation against sovereigns to finally focus on the development of the recently concluded conflict between the Republic of Argentina and its holdout creditors.

Keywords : Argentina; Sovereign debt; Debt Restructuring; Creditors; Vulture funds; Holdouts Negotiation.