Billionaire hedge-fund mogul Paul Singer may ask a Manhattan federal appeals court to force Argentina to fork over $1.4 billion in bond payments as soon as next month, sources told The Post.
Singer is weighing such a move after Argentina's President Cristina Kirchner went on local TV and suggested a way of side-stepping a recent court order.
The Manhattan appeals court ruled Argentina has to pay Singer's Elliott Management and other investors about $1.4 billion due on their unrestructured bonds — but stayed the order pending the country's full appeal.
After Kirchner's move, Singer is weighing asking the court to lift the stay, sources said.
If Singer successfully petitions the court, the South American nation could be forced to pay Singer and others when it makes its next interest payment to the owners of the restructured bonds in late September.
Argentina restructured its debt in 1992, and 93 percent of all bondholders agreed to the sharp haircut.
Singer bought bonds from among the holdouts at a steep discount and pursued a full payout through US courts over a decade.
Kirchner has vowed not to pay Singer a single cent — calling him and other holdouts "vultures."
Many observers suggested Kirchner's move this week was politically motivated since her party is doing badly in polls ahead of this fall's elections.
Yesterday, Argentina's Economy Minister Hernán Lorenzino defended Kirchner.
"This is not a unilateral decision to alter payment mechanisms," he said, according to a Bloomberg News report.
"We see it as a voluntary option for creditors who think it's more convenient to renounce the rights of US legislation and accept another legislation."
mcelarier@nypost.com
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