Tag: hedge funds

hedge funds
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.

Tuesday, July 8th 2014 - 08:10 UTC

Kicillof meets Pollack requests 'stay' injunction to pay bondholders

The meeting took almost four hours and was followed by a communiqué from the Argentine delegation

Argentine Economy Minister Axel Kicillof held Monday afternoon a meeting that lasted almost four hours with the Special Master appointed by US Judge Thomas Griesa, Daniel Pollack, and requested that an injunction allowing Argentina to pay bondholders be reinstated while negotiations with holdouts developed.

Friday, July 4th 2014 - 07:47 UTC

Kicillof confirms meeting of Argentine delegation with mediator Pollack

 'Special Master' confirmed the meeting next Monday in a brief release

Economy minister Axel Kicillof has confirmed that Argentina would enter talks with mediator 'Special Master' Daniel Pollack over the legal battle currently raging between the nation and holdout hedge funds as 'vulture funds', while clarifying that those funds would not be present.

Friday, July 4th 2014 - 06:00 UTC

OAS supports Argentina on hedge funds issue; Timerman regrets “US attitude”

Timerman said he appreciated solidarity and commitment from the region but ”I do not quite understand the US’s position”

The Organization of American States (OAS) voted on Thursday to support Argentina’s position against holdout investors, as well as expressing concern over what the entity called “the behavior of speculative agents that affect global financial stability.”

Thursday, July 3rd 2014 - 06:26 UTC

Roubini warns about negative consequences from the Argentine case

”Holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors”, said the renowned economist

The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”

Thursday, July 3rd 2014 - 06:17 UTC

Hedge funds challenge Kicillof to meet them on Thursday in Washington

The Argentine minister will be in the US capital to address foreign ministers at the Organization of American States (OAS) on the current litigation

The NML Capital hedge fund is ready to meet and negotiate directly with Argentine Economy minister Axel Kicillof and is willing to do so on Thursday, according to a top-ranking executive of the hedge fund involved in a long standing litigation with the Argentine government over defaulted debt.

Wednesday, July 2nd 2014 - 07:53 UTC

“Vulture funds not interested in negotiations” claims Minister Kicillof

Kicillof is trying to blame holdouts and Judge Griesa for the current situation

“Vulture funds are not interested in negotiations”, and all they want is “to get hold of the money for re-structured bonds holders”, said Argentina's Ministry of Economy in a release made public late Tuesday, the last exchange on the ongoing battle in a New York court with holdout hedge funds.

Tuesday, July 1st 2014 - 07:14 UTC

Argentina confirmed Monday 7 July negotiations with hedge funds as instructed by Griesa

Minister Kicillof is expected to head the delegation that will first meet with mediator Pollack named by Judge Griesa (Pic AP)

Argentina confirmed that next Monday, 7 July it will hold a meeting with “Judge Thomas Griesa delegate, Daniel Pollack”, in the framework of the current litigation with speculative funds, according to a Monday release from the Ministry of Economy in Buenos Aires.

Monday, June 30th 2014 - 05:47 UTC

OAS Permanent council expected to consider Argentina/hedge funds conflict

The idea is for a strong statement from OAS in support of Argentina in its ongoing litigation

The Argentina litigation with holdout hedge funds will have an additional ingredient this Monday when the Organization of American States, OAS, Permanent Council holds an extraordinary session, on a special request from Argentina, to consider a consultation meeting of foreign ministers to address the issue of sovereign debt restructuring.

Saturday, June 28th 2014 - 10:57 UTC

Argentina claims Judge Griesa “blocked the payment to bondholders”

Axel Kicillof remarked that Griesa “sought to cancel the payment which was already deposited yesterday”

Through an official press release published on Friday afternoon, the Argentine government stated US Federal Judge, Thomas Griesa, attempted to “block the payment for bondholders,” and committed an abuse of authority, after cancelling the deposit made on Thursday into a Bank of New York account.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement