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