U.S. hedge fund Aurelius Capital Management, which will take a stake in Co-op Bank under a rescue plan for the British mutual lender, is also protagonist in a lengthy and bitter court battle over Argentina's debt default. The New York-based investment firm is among a group of activist investors who will swap bondholdings for equity in Co-op Bank, which has long promoted a commitment to ethical business practices to attract customers. Aurelius, which will be Co-op Bank's largest hedge fund shareholder under the plan detailed on Monday, has a record of litigation to resolve its disputes. This includes the battle to force Argentina to repay $1.33 billion following its default in 2002, after funds refused to take part in two debt restructurings.
via Business News - Yahoo Finance http://finance.yahoo.com/news/co-op-hedge-fund-shareholder-200409046.html
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