Tag: Paul Singer

Paul Singer
Thursday, August 21st 2014 - 08:30 UTC

Kicillof: “no change of NY jurisdiction, but a change of payment location”

 Judge Griesa “clearly benefits” 1% of creditors “that never entered and never wanted to enter” the debt restructurings, claimed Kicillof

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

Wednesday, August 20th 2014 - 10:06 UTC

Argentina gambling industry tycoon closes Miami casino for a year

Cristobal Lopez is a close associate of the Kirchner family and was benefitted with gambling licenses.

Argentine gambling industry tycoon Cristobal Lopez and who has been targeted by Paul Singer from Elliott Management in his hunt for assets connected to Argentine leaders, has closed for 'a year' a casino he owns in Florida and which he only opened last February.

Wednesday, August 20th 2014 - 10:00 UTC

Citi tells Griesa its banking license in Argentina is at risk because of the 'holdouts case'

Citi expects to receive about 5 dollars million from Argentina ahead of its next coupon payment deadline of Sept. 30.

Citigroup has told the US appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff.

Saturday, August 9th 2014 - 07:34 UTC

Griesa warns Argentina with 'contempt' if it continues with “false and deceiving statements”

Blackman said his firm had nothing to do with the two-page ad and appealed to Griesa to consider that Argentina's default was of “immense public interest”

New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank.

Friday, August 8th 2014 - 08:57 UTC

Argentina urges Obama to intercede in holdouts case: Griesa is 'interfering with US foreign policy'

“The US has to be responsible for its justice. We hope to settle this case in an international court” said Cristina Fernandez

Argentine President Cristina Fernández on Thursday urged US President Barack Obama to intercede in the dispute between Argentina and holdouts over Argentine debt, while blasting New York judge Thomas Griesa for “not making any sense”.

Friday, August 8th 2014 - 08:49 UTC

The Guardian: How Barack Obama could end the Argentina debt crisis

President George W Bush invoked 'comity' power and blocked Singer's seizure of Congo-Brazzaville's US property

By Greg Palast (*) - US president need only inform a federal judge that vulture fund billionaire Paul Singer is interfering with the president's sole authority to conduct foreign policy. He hasn't. But why not?

Sunday, August 3rd 2014 - 13:22 UTC

“Argentina Finds Relentless Foe in Paul Singer’s Hedge Fund”

While Singer’s firm has yet to collect any money from Argentina, experts say that the battle may have shifted the balance of power toward creditors

The following article by Peter Eavis and Alexandra Stevenson was published in The New York Times and addresses the current litigation between Argentina and the speculative funds. The hedge fund firm of billionaire Paul E. Singer has about 300 employees, yet it has managed to force Argentina, a nation of 41 million people, into a position where it now has to contemplate a humbling surrender.

Friday, July 25th 2014 - 05:49 UTC

Holdouts lash out at Argentina: “it is choosing to default next week”

Paul Singer is head of NML Capital, together with Aurelius Capital the two main holdouts litigating with Argentina

NML Capital Ltd, one of the lead holdout creditors in Argentina's sovereign bond dispute said on Thursday the Argentine government refused to negotiate through a mediator and was all but preparing to default on already restructured debt.

Wednesday, July 23rd 2014 - 06:42 UTC

Holdouts want to sit down with Argentina and solve the dispute; 'countdown clock'

Paul Singer, head of NML Capital

Following on Tuesday's audience with Judge Thomas Griesa, NML Capital the leading speculative fund litigating with Argentina, issued a release saying “it is willing to hold a meeting with 'Special Master' Daniel Pollack and Argentina to solve the dispute”.

Friday, June 27th 2014 - 08:35 UTC

Judge Griesa calls Argentina and hedge funds for a hearing on Friday

NML urged Griesa “to address the violation of the court's order”

A US judge has scheduled a hearing for Friday after hedge funds suing to collect on defaulted debt issued by Argentina complained about the country's plans to make a payment to creditors who participated in its past restructurings.

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