Hedge Funds

Greylock wins round in Argentine default suit


Greylock Capital Management has come one step closer to recovering the hundreds of millions of dollars lost by its distressed debt funds when Argentina defaulted on more than $100 billion in debt in December 2001 - the largest sovereign default in history.

On February 20, Judge Thomas Griesa in federal court in Manhattan granted a motion for summary judgment against Argentina in the case brought by the New York emerging markets fund group. That final judgment is pending, but the motion brings Greylock closer to recouping principal and accrued interest for its Distressed Debt Master Fund Ltd. and the