Tag: New York State Court of Appeals
New York State Court of AppealsAs the US before IMF lines up behind Argentina in the litigation with hedge funds
For the first time since the litigation of hedge funds against Argentina the International Monetary Fund warned about the ‘risks’ which would entail ratifying Judge Thomas Griesa ruling condemning Argentina to pay over a billion dollars plus interests to the so called ‘vulture funds’.
Argentina offers to pay ‘holdouts’ but on same terms as those who accepted debt restructuring
President Cristina Fernández defended on Friday her debt reduction policies and blasted the so-called vulture funds and multilateral organizations but also admitted Argentina was willing to pay holdouts on the same conditions that those who accepted the 2005 and 2010 debt restructuring.
Markets fear Argentina could be en route to a ‘technical’ default
“We are representing a government, and governments will not be told to do things that fundamentally violate their principles” lawyer Jonathan Blackman told the Manhattan US appeals court.
Argentina and ‘holdout hedge funds’ prepare for the final clash this week
The long-awaited showdown in a US appeals court this week pits Argentina against a group of investors who refused to swap their debt after the country's historic 2002 default.
Argentina prepares for the ‘mother of all battles’ against ‘holdout’ bondholders
Argentina has made its final written arguments ahead of a February 27 US courtroom showdown against “holdout” bondholders demanding full payment of capital plus interests for sovereign debt from the default of more than a decade ago.
Argentina lashes back at the IMF but announces new CPI for this year
Following Friday’s IMF ‘declaration of censure’ on Argentina because of the lack of reliability in its inflation and GDP stats, and the country’s first reaction virtually describing the Fund as mother of all financial evils, Minister of Economy Hernan Lorenzino announced a new ‘national’ Consumers Prices Index to be implemented in the course of this year and which will replace the current GBA-IPC.
Hedge funds insist in New York court Argentina must pay defaulted bonds
Hedge fund investors who refused to join two sovereign debt restructurings by Argentina urged a US court in New York to force the country to pay them.
Investors holding restructured Argentine bonds also appealed Judge Griesa’s ruling
Investors holding 1 billion dollars worth of restructured Argentine debt said they also appealed to US District Judge Thomas Griesa’s ruling that they fear would trigger another default and prevent them from being paid principal and interest due on their bonds next month.
Ambassador Argüello says Argentina will not pay the price of the ‘North’s financial irrationality’
Argentina’s Ambassador to the United States, Jorge Argüello, assured on Monday that “Argentina will not pay the price for the financial irrationality of the North“, and under no circumstances ”will tolerate the vulture funds’ blackmailing.”
Crucial week for Argentina’s bonds’ dispute with ‘technical default’ fears looming
The Argentine government will appeal on Monday the New York federal court ruling from Thomas Griesa which orders the country to pay 1.3billion dollars to the investment funds which held out from the (2005 and 2010) restructuring of the 2002 defaulted sovereign debt.
