Paul Singer, the billionaire director of hedge fund NML Capital currently involved in a legal dispute with Argentina in New York, has reportedly ended his association with a consultancy linked to former US Secretary of State Madeleine Albright.
According to the New York, the ‘vulture fund’ chief had hired the ex-Democrat politician in an attempt to reach an agreement with President Cristina Fernández de Kirchner over the issue of sovereign debt held by holdout investors that refused to enter the 2005 and 2010 swaps.
But the newspaper stated in today’s article that «the assignment backfired when Argentina President Cristina Kirchner publicly attacked Albright’s firm for meddling in the country’s affairs»
That failure to negotiate with Argentina, despite an order from New York district judge Thomas Griesa suspending payment on restructured debt until an agreement is reached with holdouts, has led to Albright and Singer parting ways.
A source from Elliott Management told the Post that Albright’s contract with the financial institution was «a short-term assignment» that came to an end because “the Argentines don’t appear to be interested” in collaborating with the former Secretary of State.
buenosairesherald.com