Other defaulted bondholders who refused to engage in Argentina’s 2005 and 2010 debt swaps reportedly began to group together yesterday, with law firm Bingham McCutchen hosting a conference call to advise them.

Me-too holdouts appear

Other defaulted bondholders who refused to engage in Argentina’s 2005 and 2010 debt swaps reportedly began to group together yesterday, with law firm Bingham McCutchen hosting a conference call to advise them.

“Given Argentina’s openly stated desire to resolve 100 percent of its debt, we predict the most valuable holdout organization will be one that credibly includes representation of as broad a base ofbonds as possible,” a Bingham McCutchen letter to investors accessed by Bloomberg News read.

The Economy Ministry says that claims from these “me-too” holdouts taking Elliot Management’s victory as legal precedent could amount to US$15 billion, half the country’s foreign-currencyreserves.