Skip to main content

Paul Singer Will Comb The Desert (For Embezzled Argentine Assets)

  • Author:
  • Updated:

So it seems—surprise, surprise!—that Argentina hasn’t really been all that serious about trying to strike a deal with Paul Singer, and that the world’s banks aren’t especially interested in absorbing much risk to curry favor with President Cristina Kirchner. So Singer’s going back to a strategy that, while unsuccessful in actually getting him any of his money, has been very, very successful at infuriating people in Buenos Aires. Call it the “ship-seizing” strategy. Or, in this case, the “money-embezzled-by-Cristina-Kirchner’s-old-buddy-seizing” strategy.

Singer asked a federal court in Las Vegas in April to order 123 companies in Nevada to turn over information about assets belonging to Argentine businessman Lazaro Baez, who is accused in that country of embezzling $65 million from government contracts. U.S. Magistrate Judge Cam Ferenbach in Reno granted that request Aug. 11….

“There is no dispute that Baez embezzled Argentine funds and that an embezzler or ‘thief acquires no title to the property which he steals,’” Ferenbach wrote.

But Paul Singer can! If he can find it, anyway.

Singer Gets OK to Chase Argentina Money Trail to Nevada [Bloomberg]
Hedge Fund Holdouts Fail to Reach Private Deal Over Argentine Debt [DealBook]


Paul Singer Having Some Fun With Argentina Again

Well, fun for Singer. Argentina, not so much.

Argentine Government Encouraging 11 Year-Olds To Take A Slingshot To Paul Singer's Face

The country's war against its international creditors has taken a kind of amazing turn.

Getty Images

Paul Singer For President

...says Paul Singer. Anybody but Trump or Hillary for this guy.

Paul Singer Feeling Philosophical About Argentina

"Maybe this is the year that our Argentina situation gets resolved, and maybe it is not."