- Argentina faces a Wednesday deadline for more than $500 million in debt payments
- It appears unlikely that bondholders will receive their money
The Wall Street Journal have a “primer” on what might happen should Argentina miss the payments. It can be found here and is ungated: If Argentina Defaults, Then What?
For example ..:
Q: Will Argentina go into default?
A: If a debt-service payment isn’t transmitted before midnight on Wednesday evening, Argentina will be in default under the bond documents, legal experts say. Argentina, however, could continue to claim that it isn’t in default. If necessary, a court may have to decide, though legal experts say Argentina’s claim would be thin.
