Tag: hedge funds

hedge funds
Friday, December 11th 2015 - 11:54 UTC

International banks commit 8bn dollars to the new Argentine administration

 If it all works out as planned it could be a great start for the incoming central bank president Federico Sturzenegger

The incoming government of Argentine president Mauricio Macri is about to receive its first financial boost from overseas, which according La Nacion sources could be in the range of 8 billion dollars.

Thursday, December 10th 2015 - 08:18 UTC

Pollack confirms Macri´s administration intention of negotiating with hedge funds

Daniel Pollack said in a statement that he had met “earlier this week” at his office in New York with Argentina's incoming finance secretary, Luis Caputo

The court-appointed mediator in a long-running debt dispute pitting Argentina against holdout hedge funds said Wednesday that President-elect Mauricio Macri's incoming administration intended to negotiate a settlement.

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, September 1st 2015 - 06:59 UTC

US Appeals Court backs Argentina: sovereign immunity for Central bank funds

Griesa had opened the door for the hedge funds to seize assets of the central bank held in US banks in lieu of payment.

A US appeals court supported Argentina's appeal Monday against an earlier ruling that could have permitted a group of creditors to seize assets of Argentina's central bank.

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.

Saturday, May 9th 2015 - 09:57 UTC

Argentina will file complaints against speculative funds in Belgium

Minister Kicillof making the announcement and describing speculative funds as “despicable and repugnant”

Economy Minister Axel Kicillof confirmed the Argentine government will be filing a complaint against speculative or 'vulture' funds for seeking to seize the accounts of the Argentine embassy in Belgium, and the Argentine mission before the EU in Brussels, adding hedge funds are the most “despicable and repugnant” of the world financial system.

Thursday, April 23rd 2015 - 08:54 UTC

Griesa rules hedge funds entitled to details of recent Argentine bond offering and banks must comply

District Judge Thomas Griesa

U.S. judge on Wednesday ruled that hedge funds suing over unpaid debt stemming from Argentina's 2002 default are entitled to details of a recent bond offering by Buenos Aires.

Saturday, March 21st 2015 - 05:55 UTC

Cristina Fernandez warns Citibank must comply with Argentine law

Banks operating in Argentina “must obey Argentine laws, just like in every country. We're no different,” the president said.

President Cristina Fernandez warned on Friday that banks operating in Argentina must obey its laws, amid a row over Citibank's refusal to defy a US court order blocking Buenos Aires from repaying its restructured debt. At the end of the month, 31 March, Citibank as custodial has to pay Argentine restructured bonds.

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.

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.

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