Finance
Argentina facing $1.84 billion UK court claim over GDP-linked securities
Published by Global Banking & Finance Review®
Posted on March 16, 2026
2 min readLast updated: March 16, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 16, 2026
2 min readLast updated: March 16, 2026
Argentina faces a €1.58 billion (~$1.84 billion) claim in London’s High Court by four hedge funds over GDP‑linked securities tied to a 2005 restructuring. Earlier rulings awarded €1.33 billion plus interest; Argentina’s appeals were dismissed, and non‑compliance has triggered the new claim.
LONDON, March 16 (Reuters) - Argentina is facing a London court claim for nearly 1.6 billion euros ($1.8 billion) from four hedge funds, who previously sued the South American republic over GDP-linked securities and left it with a similar-sized debt.
Lawyers representing the four funds said in a statement on Monday that they had applied to London's High Court for an order that Argentina owes them the sums in relation to euro-denominated securities.
The funds sued Argentina back in 2019 and the High Court ruled in their favour in 2023, leaving Argentina on the hook for 1.33 billion euros plus interest. Argentina's attempts to appeal were ultimately rejected in 2024.
Quinn Emanuel, the law firm representing the funds, said the money owed "remains substantially unpaid" and the amount outstanding is approximately 1.6 billion euros.
They said Argentina had subsequently not complied with a court order in relation to the publication of GDP data and the holders of the securities were now owed another 1.58 billion euros, including interest.
Argentina's ministry of economy did not immediately respond to a request for comment.
In a document filed with the High Court, Quinn Emanuel quoted Argentina's lawyers as stating that a new methodology for GDP data was the "most accurate measurement of Argentina's economic activity available".
The warrant, designed to pay investors more if Argentina's economic output exceeded certain thresholds, was initially issued as part of the country's 2005 debt restructuring.
($1 = 0.8697 euros)
(Reporting by Sam Tobin; additional reporting by Rodrigo Campos in New York and Nicolas Misculin in Buenos Aires; Editing by Chizu Nomiyama)
Argentina is facing a UK court claim from four hedge funds over unpaid euro-denominated GDP-linked securities.
The court claim amounts to nearly 1.6 billion euros, or approximately $1.84 billion.
The High Court ruled in favor of the hedge funds in 2023, leaving Argentina with a large debt, and Argentina's attempts to appeal were rejected in 2024.
These are financial instruments that pay investors more if Argentina's economic output exceeds certain thresholds, introduced after the 2005 debt restructuring.
According to the funds' lawyers, the debt remains substantially unpaid and Argentina has not complied with related court orders.
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