Apparent Peruvian Judicial Shell Game Has Gramercy Searching For Options

A Peruvian judge who sat on the country’s highest constitutional court said in a criminal complaint that his signature on a key bond default ruling was altered, the Financial Times is reporting. The charges leave distressed debt hedge fund Gramercy Funds Management scratching its head, looking for a higher judicial authority, the hedge fund said in an interview with Valuewalk. The latest corruption charges coming from Peru adds fuel to the fire of bondholders such as Gramercy who are disputing a unilateral offer by the government that, based on a report by a reputable international accounting firm, will only pay them…