Tag: New York State Court of Appeals

New York State Court of Appeals
Saturday, January 11th 2014 - 06:57 UTC

US Supreme Court agrees to consider Argentina litigation case with hedge funds

A decision from the Supreme Court is expected by the end of June

The US Supreme Court agreed on Friday to consider a dispute over subpoenas in a case stemming from long-running litigation over Argentina's obligations to bond investors in the wake of its default on 100 billion dollars in sovereign debt in 2002.

Tuesday, November 19th 2013 - 08:43 UTC

Argentina vs. hedge funds: Appeals court latest ruling opens the way to the US Supreme Court

Robert Koenigsberger, managing partner and chief investment officer of Gramercy Funds Management

A United States appeals court on Monday declined to reconsider an order requiring Argentina to pay 1.33 billion dollars, ruling in favor of bondholders who refused to participate in two debt restructurings spinning out of the country's 2002 default.

Friday, September 13th 2013 - 20:50 UTC

Argentina formally requests US Supreme Court to review Appeals court favoring holdout hedge funds

Minister Lorenzino said Argentina will try to convince courts and creditors to accept the 2005 and 2010 structured debt terms

Argentina’s legal representation in Washington DC yesterday sent a petition for a writ of certiorari to the United States’ Supreme Court, requesting Justices to accept its appeal against the Second Circuit Court of Appeal’s ruling in favour of holdout hedge funds, which are demanding full repayment for bonds left unpaid by Argentina’s record-breaking 2002 default.

Monday, August 26th 2013 - 03:01 UTC

Argentina defiant of bonds‘case latest ruling: ‘they want to take us back to 2001’

Minister Lorenzino said Argentina will continue to pay the restructured bond holders ‘as we have done up until now’

Argentine Economy minister Hernán Lorenzino said that the New York appeals court ruling supporting Judge Thomas Griesa decision in favour of paying the hedge funds the 1.3bn dollars they are demanding, was an “attempt to take the country back to 2001”.

Saturday, July 20th 2013 - 06:03 UTC

Argentina/hedge funds dispute: US will not file ‘uninvited’ brief to Supreme Court

The US Supreme Court is expected to act on the appeal in late September or early October

The Barack Obama administration won’t file a brief next week urging the U.S. Supreme Court to hear Argentina’s appeal in a clash with implications for tens of billions of dollars in defaulted debt, according to a Justice Department spokesman.

Friday, May 24th 2013 - 07:10 UTC

As the US before IMF lines up behind Argentina in the litigation with hedge funds

IMF fears the negative impact on other sovereign debt restructuring processes

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’.

Saturday, March 2nd 2013 - 07:55 UTC

Argentina offers to pay ‘holdouts’ but on same terms as those who accepted debt restructuring

Cristina Fernandez: “the world has to choose whether they will let a handful of people ruin everyone”

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.

Friday, March 1st 2013 - 14:21 UTC

Markets fear Argentina could be en route to a ‘technical’ default

Judge Reena Raggi underlined that a court’s role is to enforce contracts, “not to rewrite them”

“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.

Monday, February 25th 2013 - 06:22 UTC

Argentina and ‘holdout hedge funds’ prepare for the final clash this week

Paul Singer, founder of hedge fund Elliot Management in a decade long fight with Argentina

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.

Monday, February 4th 2013 - 04:51 UTC

Argentina prepares for the ‘mother of all battles’ against ‘holdout’ bondholders

The US said that to award full payment to holdouts could harm finances of emerging market countries and complicate future sovereign debt restructurings.

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.

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