Argentina

Argentina
Friday, July 25th 2014 - 05:36 UTC

Argentina/holdouts will meet again on Friday; “issues remain unresolved”

The issues separating the parties remain unresolved at this time. The time for the Republic to avoid Default (July 30) is short, said Pollack

Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between Argentina and the holdouts from speculative funds said that Thursday's meeting had failed and announced a new audience for Friday at 10:00 in the morning in New York.

Friday, July 25th 2014 - 05:22 UTC

“The muddled case of Argentine bonds”, as seen by New York Times

“Only now is Judge Griesa learning how complicated life can be for a judge seeking to control actions by a sovereign government”

The following piece was written by Floyd Norris, financial analyst from The New York Times and refers to the complicated process that has emerged from the ongoing battle between Argentina and the holdouts demanding full payment of sovereign bonds, plus accrued interests.

Friday, July 25th 2014 - 05:14 UTC

Argentina insists on Griesa for some insurance against the RUFO clause

The latest release followed a meeting between President Cristina Fernandez and minister Kicillof

After failing to reach an agreement during Thursday's meeting with court-appointed mediator Daniel Pollack, Argentina reiterated that there could be no negotiations with speculative funds or 'vulture funds' until judge Thomas Griesa provides some insurance against possible liabilities related to the 'Rights upon Future Offers' (RUFO) clause.

Thursday, July 24th 2014 - 22:55 UTC

Speculative funds denies any request to temporary suspend payment order

“The story is utter fiction” said Brodsky, chairman of Aurelius Capital Management

Argentine debt holdout investor Mark Brodsky, chairman of Aurelius Capital Management, said his group will not ask US Judge Thomas Griesa to suspend his payment order, after a story in Argentina's La Nacion newspaper on Thursday suggested that Paul Singer’s NML Capital Ltd could ask Griesa to reinstate the stay of injunction as requested by Argentina.

Thursday, July 24th 2014 - 07:01 UTC

In defiant speech CFK openly brushes aside any default “because Argentina has paid”

The Argentine president warned that “they will have to invent a new word to explain how a country has paid its debt and someone blocked it”.

In a defiant speech President Cristina Fernández reiterated on Wednesday that Argentina will “not fall into default” and warned that “they will have to invent a new word” to explain how a country has paid its debt and “someone blocked it”.

Thursday, July 24th 2014 - 06:09 UTC

Peron's iconic 1951 Cadillac limousine to be auctioned in London

The 'fabulous' Cadillac so closely linked to Argentine history during the Perón years

A 1951 Cadillac limousine owned by former Argentine president Juan Domingo Peron will be auctioned at Silverstone Auctions in England. The car, which was part of a Peron-Eva exhibition at the Eva Peron Museum in Buenos Aires, is privately owned, and was handed over to the auction house. The Cadillac has an estimated value of between 200,000 and 260,000 pounds.

Wednesday, July 23rd 2014 - 06:51 UTC

Argentina claims Griesa is blocking bondholders money and using 'vulture funds' language

Kicillof and Cristina Fernandez met for several hours before making official the release late Tuesday

Argentina reacted strongly to Tuesday's events in the New York federal court which denied its stay request, claiming Judge Thomas Griesa “did not solve absolutely any of the issues for which he summoned today's audience”, insisting with his “unbelievable ban” on structured bonds' collecting their payment.

Wednesday, July 23rd 2014 - 06:42 UTC

Holdouts want to sit down with Argentina and solve the dispute; 'countdown clock'

Paul Singer, head of NML Capital

Following on Tuesday's audience with Judge Thomas Griesa, NML Capital the leading speculative fund litigating with Argentina, issued a release saying “it is willing to hold a meeting with 'Special Master' Daniel Pollack and Argentina to solve the dispute”.

Wednesday, July 23rd 2014 - 01:10 UTC

Griesa rejects 'stay'; orders Argentina and holdouts to meet 'round the clock' to reach a deal

Griesa said an Argentine default would be “most unfortunate” because it would hurt 'real people' and urged Argentina to take “sensible steps”

US Judge Thomas Griesa rejected on Tuesday Argentina’s request for a suspension ('stay') on the ruling that ordered Buenos Aires to pay 1.3 billion dollars plus interests to holdout speculative funds and instructed Argentina and holdouts to meet on Wednesday morning for a first face-to-face meeting.

Tuesday, July 22nd 2014 - 08:02 UTC

“Calamitous” state of Argentine Armed Forces equipment

 The icebreaker Irizar caught fire in 2007 and is still in dry dock

Argentine investigative reporter Jorge Lanata, loathed by the current government of president Cristina Fernandez for his disclosure of the close business links of certain unscrupulous entrepreneurs (or most probably straw-men) who have become millionaires during the Kirchner years, has now exposed the 'calamitous' state of the Argentine armed forces equipment.

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