Hamilton: Will it Delay IMF ?

Hamilton: Will it Delay IMF ?

Sri Lanka is in troubled spot as Hamilton Reserve, a holdout investor has accused Sri Lanka for keeping the reserve bank in the dark.
Sri Lanka has sought an extension of a delay of the lawsuit that was granted in November and Hamilton Reserve has opposed the new request of the government of Sri Lanka.


Hamilton Reserve, a holdout investor that represents bond holders and it is seeking immediate payment on a defaulted bonds.

Sri Lanka is seeking a further extension on the six-month extension given by a New York court, to conclude restructuring negotiations with bondholders.

Sri Lanka has got an in-principle deal with official creditors and IMF has directed Sri Lanka to sort-out matters with private bond holders.

Currently Sri Lanka seeking a 5-month extension in the suspension of a case filed by Hamilton reserve also another bondholder, Ultimate Concrete and Intercoastal Finance has intervened, complicating matters further.

Judge Denise Cote had given till March 15 for Hamilton Reserve to reply and till March 22 for the intervenient petitioners to reply.

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