Statement from the Holders of Argentine EUR-denominated GDP Warrants
LONDON, March 16, 2026 /PRNewswire/ -- The Claimants, who are represented by Quinn Emanuel, on 13 March 2026 applied to the High Court of England and Wales for an order that Argentina owed amounts under its Euro-denominated GDP-warrants for at least Reference Years 2017, 2021 and 2022.
The Claimants have previously obtained a Judgment against Argentina in respect of Reference Year 2013. That Judgment is now final, but it remains substantially unpaid. The amount outstanding is approximately EUR 1.6 billion, with interest accruing at 2% above EURIBOR.
By their new claim, the Claimants say that the GDP data in 1993 Year of Base Prices published by the Argentina for the Reference Years 2014 to 2024 does not comply with the Court's Order that it be produced using a methodology as close as possible to the methodology used by the Argentina to produce GDP data in the period 2006-2012. The Claimants say that non-compliance is most starkly illustrated by the fact that Argentina's new GDP data starts at a level in 2013 that is 12.5% lower than the level found by the Court in the previous case.
The Claimants' new claim will in due course be the subject of quantification by expert evidence. However, using the GDP data currently available, the Claimants estimate the claim in relation to Reference Years 2017, 2021 and 2022 to be for EUR 1.58 billion including interest (being 8.362 Euro cents per 1 Euro of notional).
The Claimants are conscious that the Euro GDP-warrants are traded instruments and make this statement to the market so that participants have equal knowledge of the existence of the Application. Accordingly, the Application Notice issued by the Claimants, together with the draft Order and Grounds for the Application, have been made available with this statement.
Contact:
Aidan Alexander O'Rourke
Quinn Emanuel Urquhart & Sullivan UK LLP
90 High Holborn, London WC1V 6LJ
E-mail: [email protected]
Phone: +44 20 7653 2019
SOURCE Quinn Emanuel Urquhart & Sullivan UK LLP
Share this article