Tag: Aurelius Capital Management

Aurelius Capital Management
Tuesday, April 19th 2016 - 08:47 UTC

Spectacular Argentine return to money markets: bond issue subscribed several times

Argentina attracted US$ 67bn bids for its first bond issue in world markets since it defaulted back in 2001

Argentina marked a spectacular comeback to world money markets on Monday when its first bond issue in fifteen years attracted bids more than three times reaching US$ 67 billion. Argentina is after US$ 15bn which will help pay creditors on its ongoing litigation, since the country defaulted back in 2001.

Saturday, February 13th 2016 - 05:40 UTC

Aurelius hedge fund “baffled” by Argentina's decision to 'continue litigation'

Given “the choice between accepting the substantial haircut we have offered, continuing negotiations, and litigating, Argentina chose to litigate”, said Brodsky

Hedge fund Aurelius Capital Management, one of the major creditors in the Argentine bond litigation who has not agreed to participate in a proposed $6.5 billion settlement, called Argentina's decision to return to court in the dispute “baffling.”

Saturday, October 31st 2015 - 07:04 UTC

Griesa accepts 'me too' claims and raises Argentina's bond debt to US$ 9bn

Griesa said the 530 bondholders behind the 49 complaints have the same claim to be paid the full value of their defaulted bonds as NML Capital and Aurelius

US judge Thomas Griesa on Friday accepted the priority repayment claims of hundreds more Argentine bondholders who did not join a huge debt restructuring. The ruling, on 49 complaints representing debt worth $6.1 billion, added fresh pressure on Buenos Aires which has refused to pay off two hedge fund creditors that already won court support for their claims.

Tuesday, October 6th 2015 - 07:28 UTC

Victory for Argentina in its ongoing battle with speculative funds

Appeals court upheld a ruling from Judge Griesa, agreeing that plaintiffs were not entitled to possess the funds and did not have rights to the money superior to that of BNY Mellon.

The 2nd US Circuit Court of Appeals in New York refused on Monday to force Bank of New York Mellon Corp to turn over to holders of defaulted Argentine bonds any of the $539 million the country deposited in 2014 to pay creditors who participated in its past restructurings.

Tuesday, May 12th 2015 - 06:25 UTC

Argentina reacts to hedge funds attempt to block a fresh debt emission

“It is nothing more than another desperate attempt, after the vulture funds' failure in their efforts to stop the recent auction” said Ministry Kicillof

Argentina has launched a stinging attack on hedge funds attempting to block payment on last month's Bonar 24 debt issuance, stating that the petition shows the 'vulture funds' desperation following the successful auction.

Tuesday, January 6th 2015 - 22:49 UTC

Aurelius hedge fund denies being part of lawsuit filed against Petrobras

“The lawsuit has been filed by the City of Providence (Rhode Island. Aurelius has nothing to do with it,” said the president of Aurelius Mark Brodsky

Aurelius Capital Management, one of the main plaintiffs against Argentina in New York District Judge Thomas Griesa’s courtroom, has denied being part in a lawsuit filed against Brazilian state-owned oil company Petrobras, in response to accusations by Argentina’s Economy Minister Axel Kicillof.

Wednesday, December 31st 2014 - 05:42 UTC

Hedge fund targets 54bn dollars in Petrobras bonds governed by US law

Aurelius, a “distressed debt” fund, is asking investors to put the company into default as “a precautionary step”, according to Reuters

Petrobras, Brazil's state-run oil company, could be declared in technical default on some of its foreign debt if bondholders pursue efforts to force it to speed up its assessment of losses in a giant corruption scandal, according to reports from Reuters.

Tuesday, November 18th 2014 - 07:59 UTC

German bondholders join the “me-too club” demanding payment of Argentine bonds

Bondholders, advised by the firm based in Boston Bingham McCutchen, asked US District Judge Thomas Griesa to take Argentina to court and be paid fully

Demands against Argentina by so-called “me-too” bondholders, who are asking to be paid in the same conditions as Elliot and Aurelius Managment holdouts, are starting to pile up as holders of Argentine bonds issued under German law who didn’t take part of the country’s debt swap filed a new complaint at a United States court to demand full payment.

Wednesday, November 5th 2014 - 03:43 UTC

Argentina appeals Judge Griesa's 'contempt of court' ruling

Griesa said that Argentina’s moves to strip Bank of New York Mellon as the trustee for bonds and plans to replace it with Nacion Fideicomisos was illegal

Argentina on Monday asked the Second Circuit Court of Appeals to overturn a federal judge’s finding that it is in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated.

Saturday, October 25th 2014 - 10:02 UTC

Argentina's bonds dispute: Judge Griesa delays a week a Citigroup hearing

In a brief order Friday Griesa said the hearing, originally set for Dec. 2, will now take place Dec. 9.

U.S. District Judge Thomas Griesa has delayed by a week a December hearing to consider whether Citigroup Inc should be allowed to process an interest payment by Argentina on bonds issued under its local laws following its 2002 default.

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