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Montevideo, September 20th 2018 - 09:01 UTC

Argentina hopes US Supreme Court hears its case with the hedge funds

Monday, September 30th 2013 - 17:00 UTC
Full article 29 comments

The US Supreme Court was scheduled to meet behind closed doors on Monday to decide whether to hear a high-profile appeal by Argentina over its battle with hedge funds that refused to take part in two debt restructurings that sprang from the country's 2002 default. Read full article

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  • LEPRecon

    I think it's more likely that the Argentine government is hoping, and praying that the SCOTUS hears their case.

    But it is only a delaying tactic. Sooner or later they're gonna have to pay.

    Sep 30th, 2013 - 06:50 pm - Link - Report abuse 0
  • yankeeboy

    I have this sneaking suspicion that SCOTUS is going to coordinate with NY Appeals and turn down all further requests so it's all done at the same time.

    It would be nice if they did it right before the elections.
    Nice for me that is!

    Sep 30th, 2013 - 07:09 pm - Link - Report abuse 0
  • Ayayay

    There has already been indications that the Supreme Court doesn't want to hear the case. Plus, it would be very uncommon seeing as there is so much agreement by the lower courts.

    The exec branch of the U.S., however, would like it overturned, as it increases individual rights and limits the power of govs to (bully) them.

    Tommorow is the day the world will know, though.

    Sep 30th, 2013 - 08:22 pm - Link - Report abuse 0
  • The Truth PaTroll

    “But it is only a delaying tactic. Sooner or later they're gonna have to pay”

    What are you going to do? Get a UN resolution to bomb us?

    HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

    Sep 30th, 2013 - 08:27 pm - Link - Report abuse 0
  • ChrisR

    @4

    Nobody is going to bomb The Dark Country unless they can get rid of the 15 M Peronistas, presumably including you, to scour the country of the infestation that is presently destroying it.

    Only then would Argentina be of any use to anyone.

    Sep 30th, 2013 - 08:53 pm - Link - Report abuse 0
  • slattzzz

    @5 if you want to find TTT you don't need to go anywhere near rgenweener, Canada mate, troll abroad, sorry troll banned from home country

    Sep 30th, 2013 - 09:10 pm - Link - Report abuse 0
  • british bomber

    If the case is not heard then the rgs will default and the bond holders will not get paid.

    Sep 30th, 2013 - 09:36 pm - Link - Report abuse 0
  • Britworker

    @7
    Sounds like a bargain!

    Sep 30th, 2013 - 09:39 pm - Link - Report abuse 0
  • CabezaDura

    I don’t know a thing about law and least the American law but Ever since last year the Libertad was seized it was said then that Argentina finally had no more avenues or ways to escape.... I have the feeling that they will manage to delay the payment until the ones that will actually have to forcefully pay is the next Argentine government after 2015

    Sep 30th, 2013 - 10:07 pm - Link - Report abuse 0
  • yankeeboy

    4. It is a private debt the US Govt wouldn't get involved in collection. Once the courts allow every Rg asset to be seized but military and embassy it may cause you a bit of trouble.
    Try No Gas or Oil and no way to export grains
    Then I will laugh and laugh

    Sep 30th, 2013 - 11:10 pm - Link - Report abuse 0
  • The Truth PaTroll

    One problem, US courts have no juridiction here and 99% of the nations of the world do not recognize them either and will continue doing business with CFK.

    Tough luck.

    Oct 01st, 2013 - 12:20 am - Link - Report abuse 0
  • Ayayay

    @11 Then why is all the Argentine gov's savings in New York in American money. Time to put it in pesos and then devalue it to zero in three years

    Oct 01st, 2013 - 12:33 am - Link - Report abuse 0
  • golfcronie

    @11
    You know what they say, when in a deep hole you cannot get out of , STOP DIGGING. Best to pay up and move on.

    Oct 01st, 2013 - 12:38 am - Link - Report abuse 0
  • CabezaDura

    @11 Yeah... Of course Thats precisely why CFK will end up hiring Captain Nemo's submarine every time she wants to travel around the world.
    Get REAL MUPPET...At least I hope you don't vote in the Argentine Embassy in Canada

    Oct 01st, 2013 - 12:44 am - Link - Report abuse 0
  • The Truth PaTroll

    @14

    What do I care if CFK travels abroad or not? As far as I'm concerned no Argentine president should be going around abroad. Foreigners are NOT our friends.

    Oct 01st, 2013 - 01:40 am - Link - Report abuse 0
  • CabezaDura

    @14 It's not a matter that if they are our friends or not.... Argentina desperately needs to open markets and get investment from abroad, and restore its name. Argentina can’t just isolate itself. Surely you can’t be that naive. The President does need go abroad sometimes....That’s why we pay the fucking vice-president his salary for to take over in her or his absence. I'm letting you know that if you are a CFK supporter abroad (which is a contradiction in itself) that now days, not even in the most fervent controlled Kirchnerist backside-licker media here are actually saying that the hedge funds are not to be paid. It’s an accepted fact that sooner or later they will arrange something

    Oct 01st, 2013 - 02:10 am - Link - Report abuse 0
  • The Truth PaTroll

    Of course we can isolate ourselves. In an ideal world no need for it, but these are not nice people we are dealing with. They are racist, avaricious, dastardly folk, they have no interest in friendship and only are concerned with themselves. That's who you want staking control of the country?

    I much prefer the home grown devils than the foreign ones. I have always said that here.

    Oct 01st, 2013 - 02:14 am - Link - Report abuse 0
  • CabezaDura

    If it is the hedge funds you are talking about then no, I don’t think they are into charity that is clear what do you expect for them to give money freely to serial defaulters???As a matter of fact the Emerging market traders association met with the lawyers of the hedge funds in New York two weeks ago and the next thing they did was to go out and by argentine bonds (it’s in the video imbedded in the article, from minute 1:00 to 5:00) Carlos Pagni is one of the very best journalist in Argentina its much more clear than here in MP This should give you a far better understanding of the issue.
    http://www.lanacion.com.ar/1624031-jorge-yoma-el-unico-presidente-peronista-legitimado-con-el-voto-fue-menem
    But then everybody knows these guys are not philanthropists. The question is who sales the argentine debt in the first place. And why does it need to sell debt

    But if you are a communist, anarchist, isolationist or whatever then I’m afraid I can’t help you

    Oct 01st, 2013 - 02:41 am - Link - Report abuse 0
  • yankeeboy

    Anyone who dreams of isolation AFTER they've learned 5 foreign languages must be an idiot.
    Simple as that.

    Oct 01st, 2013 - 12:04 pm - Link - Report abuse 0
  • Conqueror

    @4 I suppose you do realise that war IS an option!
    @11 It's not a problem. Remember Cuba? Nothing in, nothing out. Nobody “likes” argieland. Nor does argieland have anything that anyone else “needs”. Shouting defiance is one thing. Being stupid is something else. The UK and USA are already ensuring that argieland can't get loans. Add all the countries where judgements have been given against argieland. The WORLD doesn't like CROOKS. Currently, China and Iran have argieland over a barrel. What happens when China is persuaded to be sensible and Iran gets its wish and becomes a glass desert?
    @15 Too true. No argie has a friend. Argentines may be different. There's always hope that Argentines will wipe argies out and save the rest of us having to do the job.
    @17 Good to see that you recognise yourself. “racist, avaricious, dastardly folk, they have no interest in friendship and only are concerned with themselves”. That's argies. Argies have other attributes. Belligerent, crooked, corrupt, criminal, degenerate, faking, genocidal, ignorant, larcenous, mendacious, nauseating, puerile, psychotic, rapacious, rabid, treacherous, uneducated, xenophobic.

    Oct 01st, 2013 - 12:27 pm - Link - Report abuse 0
  • Captain Poppy

    ots of interest, especially with the business press, in the Argentine bond case --12-1494. However, there has been a later 2d Circuit decision, and Argentina's lawyers have suggested the Court may want to hold this first petition to await a later one. - See more at: http://live.scotusblog.com/Event/Live_blog_of_orders#sthash.Q4JdlgN6.dpuf

    Oct 01st, 2013 - 01:26 pm - Link - Report abuse 0
  • yankeeboy

    Cap, I hear that SCOTUS may wrap in the 2nd Court action so that they are done with all the appeals when this is, or is not, taken up.
    I think and hope this is the end of the line.
    A decade is long enough
    Luckily for Singer the interest keeps clicking along day after day.

    Oct 01st, 2013 - 01:52 pm - Link - Report abuse 0
  • Captain Poppy

    The was nothing on today's orders. One of two things........An outright denial that will be announced next week, or SCOTUS is going to ask for a brief from the White House and I am starting to lean in that direction.

    Oct 01st, 2013 - 02:10 pm - Link - Report abuse 0
  • yankeeboy

    I don't think WH will get involved in a contract law matter. There is no sovereignty issue here, they waived it and even though they think they can take it back there are no backsies in US law.

    Oct 01st, 2013 - 02:21 pm - Link - Report abuse 0
  • Captain Poppy

    True and I agree, but I think because it involves a nation that they will ask for a brief.

    Oct 01st, 2013 - 02:46 pm - Link - Report abuse 0
  • british bomber

    @8 Britworker

    What about the pensioners and others that lent the money in good faith and are now waiting for their payment?

    Oct 01st, 2013 - 02:57 pm - Link - Report abuse 0
  • yankeeboy

    WASHINGTON--The U.S. Supreme Court on Tuesday took no action on an appeal by the government of Argentina in a closely watched sovereign-debt case.

    The high court added eight new cases to its docket Tuesday but made no mention of Argentina's appeal. The court could indicate as soon as next Monday what it plans to do with the case.

    At issue is Argentina's legal fight with holdout creditors that refused to accept the country's debt-restructuring offers after its historic default in 2001.

    Argentina is seeking to overturn lower-court decisions that said the country can't make payments on its restructured debt unless it also pays the holdouts.

    If the WH doesn't have the brief done already SCOTUS isn't going to see one by next Monday. The Obama administration is a train wreck I doubt very much they could turn it around in time.

    Oct 01st, 2013 - 02:59 pm - Link - Report abuse 0
  • toxictaxitrader2

    Turning around a train wreck would involve gigantic cranes and heavy lifting!!

    Oct 01st, 2013 - 04:36 pm - Link - Report abuse 0
  • Captain Poppy

    With all the highly educated lawyers, economists and politicians here on the website....and the occasional warriors that never served(but usually are warmongers), we all can be right and time will unfold itself in no more than a weeks time.

    When does asking for a brief and freely submitting a brief come under the same SCOTUS procedures?

    Oct 01st, 2013 - 05:15 pm - Link - Report abuse 0

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