Argentina

Friday, August 22nd 2014 - 07:17 UTC
Griesa leaves Argentina 'in contempt' ledge; warns any change of jurisdiction was 'lawless'

US District Judge Thomas Griesa declared on Thursday that an Argentine plan to change the 'jurisdiction' of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.
Thursday, August 21st 2014 - 08:30 UTC
Kicillof: “no change of NY jurisdiction, but a change of payment location”

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.
Thursday, August 21st 2014 - 08:06 UTC
'A contempt of court does not apply to sovereign Argentina', says Capitanich

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.
Thursday, August 21st 2014 - 07:55 UTC
Falklands war vessel in which Argentina surrendered South Georgia, to the scrap yard

The Royal Navy man-o-war on which Argentina formally surrendered the island of South Georgia during the 1982 Falklands War began its final journey on Wednesday before being scrapped. HMS Plymouth could not be saved despite years of attempts to find a permanent home for the frigate.
Thursday, August 21st 2014 - 07:46 UTC
'Malvinas Institute' in La Plata university to research 'sovereignty policies'

The University of La Plata, province of Buenos Aires, is setting up a “Malvinas Institute” that will specialize in 'sovereignty policies' research, as part of the Political Sciences department. The new research and extension center will be located in a former military barracks in downtown La Plata which was ceased to the university.
Thursday, August 21st 2014 - 07:18 UTC
Argentina back-steps on applying 'anti-terrorism' law on a US company

Argentina's head of the securities regulator, CNV, Alejandro Vanoli said that the anti-terrorism law will not be applied against the United States printing firm RR Donnelley, as president Cristina Fernández had announced last Thursday.
Thursday, August 21st 2014 - 07:07 UTC
Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.
Thursday, August 21st 2014 - 06:58 UTC
Italian bondholders' representative supports Argentina decision to change debt's jurisdiction

The Italian legal representative of Argentine bondholders, Tullio Zembo praised the Sovereign Public Debt Payment Law announced by President Cristina Fernandez, saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropriate.”
Thursday, August 21st 2014 - 06:41 UTC
Cristina Fernandez blasts those who invest in the 'illegal currency' (US dollar)

Argentine president Cristina Fernandez emphasized on Wednesday evening the need to amplify “the local financial market so we will not depend on foreign fluctuations,” during the celebration of Buenos Aires Stock Market 160th anniversary.
Thursday, August 21st 2014 - 06:32 UTC
The 'blue' dollar ended trading on Wednesday at 13.55 Argentine Pesos

Following the Argentine government’s proposal to change the debt’s payment 'location' (jurisdiction) from New York to Buenos Aires, the US dollar closed on Wednesday three cents up to 8.33 pesos in banks and exchange offices of the City, while the “blue” rate added a massive 35 cents to trade at 13.55 pesos, a new record.