Argentina is paying $800,000 to rent a jet for President Cristina Kirchner so she can avoid the threat of having her official plane seized by defaulted bondholders during a tour of Asia.
The move follows a legal battle with Ghana after the African nation detained an Argentine naval ship for 10 weeks as part of a dispute with investors holding bonds from the country’s 2001 default, led by hedge fund manager Paul Singer.
Meanwhile, Singer’s Elliott Management hedge fund said a French regulator is investigating possible insider trading by its UK unit in Autoroutes Paris-Rhin-Rhone SA in 2010. Elliott received a “letter of grievance” from Autorité des Marches Financiers that said the hedge fund may have purchased APRR shares based on material, nonpublic information.
“The statements made by the AMF in its letter are without merit,” Elliott said in the filing.