A holder of Greek bonds that were not settled in the biggest-ever debt restructuring said he?ll demand immediate payment unless the government posts collateral against his investment.
Rolf Koch, a private investor who says he holds 500,000 Swiss francs ($528,000) of the notes due in July 2013, argued that he?s entitled to equal treatment with Finland, which made getting collateral a condition of contributing to Greece?s second bailout.
He wrote to the paying agent, Credit Suisse Group AG, invoking the bonds? so-called negative-pledge clause, according to the text of a letter seen by Bloomberg News. [Bloomberg]