Tag: Holdout funds

Holdout funds
Thursday, August 13th 2015 - 06:45 UTC

Griesa sanctions Argentina for not turning in information on assets

Griesa agreed with NML that Argentina should be punished for failing to turn over evidence that the fund wants to use to discover assets.

New York district judge Thomas Griesa has said he will consider all Argentine government assets in the United States, except for diplomatic and military ones, as commercial assets which hedge fund NML Capital could try to seize.

Tuesday, August 5th 2014 - 07:10 UTC

Cristina Fernandez pledges “to adopt the most suitable measures for Argentina”

“Every time that Argentina has become viable, that is when the missiles and permanent bombardments begin” said the Argentine president

Argentine President Cristina Fernandez said on Monday that she would only take decisions that benefitted the overall health and stability of the Argentine state, as she called on the country to defend the achievements of the last 10 years.

Tuesday, July 1st 2014 - 14:59 UTC

Holdout hedge funds claim Argentina never turned up to negotiate a settlement

 “Argentina has refused to negotiate any aspect of this dispute,” said Jay Newman, senior portfolio manager at Elliott Management.

Holdout investors involved in litigation with Argentina over sovereign debt said on Monday they have not met with the government to negotiate a settlement on defaulted debt, and accused Buenos Aires of refusing to enter talks as a 30-day countdown to default begins.

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.

Thursday, June 26th 2014 - 04:40 UTC

UN agency warns Argentina debt ruling does not comply with US sovereign immunities act

The rulings “set legal precedents which could have profound consequences for the international financial system”, UNCTAD said

The United Nations trade and development agency UNCTAD said on Wednesday in a rare release that the recent U.S. court ruling on Argentina's debt erodes sovereign immunity and does not comply with the country's own U.S. Foreign Sovereign Immunities Act.

Thursday, June 26th 2014 - 01:01 UTC

Argentina insists on dialogue but “technical default” is round the corner, Kicillof tells G77

The Argentine minister addressing G77 plus China ambassadors at the UN building in New York  (Pic AP)

Economy minister Axel Kicillof said US courts haven't yet responded to Argentina's request this week for more time to negotiate a settlement with a small group of holdout creditors and warned the country could face a technical default next Monday if the sentence remains firm.

Wednesday, June 25th 2014 - 06:46 UTC

Argentina waiting for Judge Griesa's reply on the 'stay' request

 Carmine D. Boccuzzi presented the letter requesting the stay and a reasonable timeframe for these kinds of negotiations  (Pic gettyimagines)

The government of President Cristina Fernandez awaits Judge Griesa's decision after the request to issue a stay on the ruling that orders Argentina to pay all the bondholders at the same time, Argentine Cabinet Chief Jorge Capitanich said in his daily press briefing at Government House on Tuesday.

Tuesday, June 24th 2014 - 23:30 UTC

Argentina's bond fight with holdouts will be addressed by G-77 plus China

Kicillof has been invited to address the G77 plus China group

Argentina’s bond fight against holdout hedge funds will reach the United Nations headquarters on Wednesday when Economy Minister Axel Kicillof addresses the G77 plus China 134-nations plenary on Argentina's debt restructuring process.

Saturday, June 21st 2014 - 09:31 UTC

Cristina Fernandez calls for negotiations: “we want to pay 100% of creditors”

On Friday at the foot of the National Flag monument, Cristina Fernandez left aside the harsh rhetoric and called for dialogue

In a conciliatory speech compared to previous statements, President Cristina Fernandez said on Friday her government would negotiate with all of Argentina's creditors in a bid to avoid a new debt default that would further weaken the country's ailing economy.

Saturday, June 21st 2014 - 08:19 UTC

Cristina Fernandez took time to pick on the Falklands at her 'dialogue' speech

“Someday our Malvinas  will be recovered. There is no colonialism that lasts so many centuries” (Pic Telam)

Cristina Fernandez on her Friday Flag Day speech in which she lowered usual rhetoric and asked US Judge Thomas Griesa for negotiations with the holdout hedge funds, picked on the Falkland Islands sovereignty dispute to channel her fury and forecasted there “is no colonialism that can last so many centuries, eventually they fall”.


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