US Judge Thomas Griesa has ordered Argentina to reinstate the Bank of New York Mellon (BoNY) as trustee for bondholders payments and “reverse the steps taken” with the approval of the so-called Sovereign Payment law that replaced it with the country's Nacion Fideicomisos.
Italian bondholders filed a complaint order to United States District Judge Thomas Griesa asking to be given the same benefits as Aurelius Management and NML Management, the “holdouts” that were authorized by Griesa to be paid the full debt Argentina has with them.
Brazil's unpredictable election took another twist Sunday, with populist President Dilma Rousseff forced into a runoff race as expected, but against a center-right challenger who only surged in the final week of the campaign.
Latin American currencies weakened on Friday after strong U.S. jobs data was seen as increasing the likelihood of higher interest rates in the world's largest economy, while Brazil markets fluttered in the last trading session before Oct. 5 elections.
The first sign of oil industry impact on the face of the Falkland Islands capital, Stanley is in the offing with the planning approval given for an 80 room portable hotel near The Trough.
While the US State Department again called Tuesday on Argentina 'to normalize relations with all its bondholders’, the government of President Cristina Fernandez deposited a 161 million dollars bond interest payment with a newly appointed local trustee on Tuesday, defying a U.S. judge who held Argentina in contempt of court on Monday for taking illegal steps to meet its debt obligations.
Borders & Southern Petroleum PLC said it will join a Falkland Islands drilling consortium so it can participate in the 2015 drilling program on the Islands, as soon as partnering and funding has been secured for its licenses.
South Korea's Hyundai-Byucksan consortium started construction of a bridge 1,440 meters long in eastern Bolivia, a span that will be the country's longest and will require an investment of 49.9 million dollars, some of which will come from a loan from Seoul.
New York district judge Thomas Griesa declared on Monday Argentina in contempt of court, due to the country's actions in attempting to change debt jurisdictions as a result of the ongoing judicial conflict with holdout investors presided over by the US magistrate.
Finland's UPM, one of the largest forestry groups in the world, does not intend for the moment to build any new pulp mills in Uruguay, said Jaakko Sarantola, vice president of the cellulose division of the company, who also pointed out that Uruguay needs to improve infrastructure to facilitate logistics.