Argentina to pay $1.1 billion to 2 creditors in debt litigation
NEW YORK Feb 17 (Reuters) - Argentina agreed to pay two creditors more than $1.1 billion to resolve claims over defaulted debt, as part of the country's efforts to resolve long-running litigation over its 2002 default, court papers filed on Wednesday show.
Settlement agreements filed in federal court in Manhattan disclosed that billionaire investor Ken Dart's EM Ltd would receive $849.2 million, after agreeing to participate in Argentina's proposal to resolve the litigation for $6.5 billion.
Montreux Partners LP, another large creditor, will be paid nearly $298.7 million, according to court papers. (Reporting by Nate Raymond in New York; Editing by Leslie Adler)
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