The House Financial Services committee will hold hearings on the White House’s role in a case between Paul Singer’s hedge fund Elliott Management and Argentina.
On Thursday, the Republican-led House panel will look at the case where it believes the Obama administration “intervened” against US investors. One involves the friend-of-the-court brief the US filed in support of Argentina in a case before the US Court of Appeals for the Second Circuit, while the other two involve Obama-led bailouts.
The court will decide on June 20 whether to uphold a lower court’s ruling that Argentina must pay Elliott, which balked at a restructuring that forced bondholders to settle for less than they were owed.
The US argued that upholding the ruling would allow “a single creditor to thwart the implementation of an internationally supported restructuring plan.”
Former Bush Solicitor General Theodore Olson will testify on behalf of the American Task Force Argentina at the hearing. Singer, who has donated $2 million to Republicans this election season, is a member and major donor of the group.
US Court of Appeals for the Second Circuit, House Financial Services, Elliott Management, American Task Force Argentina, White House, Argentina, Obama, Paul Singer
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