Tag: Thomas Griesa

Thomas Griesa
Friday, August 1st 2014 - 07:57 UTC

World economists call on US Congress to take action on the Argentina/holdouts rulings

Forcing Argentina into a default that nobody wants ”is wrong and damaging,” said Mark Weisbrot, Co-Director of Center for Economic and Policy Research

Over 100 economists, including Nobel laureate Robert Solow, Branko Milanovic and Dani Rodrik called on the United States Congress to take action to mitigate the harmful fallout from the recent ruling by Judge Griesa of the U.S. District Court for the Southern District of New York that requires Argentina to pay holdout creditors at the same time as the majority of creditors.

Friday, August 1st 2014 - 07:52 UTC

Argentine president defies Judge Griesa rulings and mocks 'selective default'

An impeccable Cristina Fernandez displaying her discursive aggressiveness and fine irony

President Cristina Fernández said on Thursday she will not “sign an agreement” that compromises Argentina's future, while blasting “vulture funds” for wanting to “collect Griesa's usurious sentence”, following the Wednesday failure of negotiations between the country and holdouts.

Friday, August 1st 2014 - 02:43 UTC

Saying Argentina has defaulted is “an atomic nonsense” underlines Kicillof

The minister again bashed Judge Griesa and his 'incongruence” reflected in the ruling that allows 1% to block 92% of legitimate bondholders

Argentina's Economy Minister Axel Kicillof denied point blank that Argentina defaulted on its debt and described such statement as “an atomic nonsense”. The minister gave a press conference in Buenos Aires a day after the failed negotiations with holdouts in New York and claimed ”those who today cheer the apocalypse, applauded the 2001 (crisis).”

Thursday, July 31st 2014 - 22:10 UTC

Judge Griesa summons Argentina and holdouts for a Friday hearing

The judge's court filing said Friday morning the case will be “regarding the recent default by the Republic of Argentina,”

After negotiations between the Argentine government and the speculative funds, led by US Special Master Daniel Pollack failed, New York District Judge Thomas Griesa called for a new hearing between the parties for Friday at 12 pm (Argentina time).

Thursday, July 31st 2014 - 07:05 UTC

Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts

According to Kicillof, Judge Griesa is allowing 1% of holdouts to block 92.4% of bondholder from collecting their coupons

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors and special mediator Daniel Pollack ended without a settlement on Wednesday.

Thursday, July 31st 2014 - 06:55 UTC

Argentine private banks discussing bond purchase from holdouts

Banker Palla was a member of ex-Minister Lavagna team that negotiated the restructuring of Argentine sovereign debt

The meeting between Argentine private bank representatives and the 'holdouts' over the debt held by the hedge funds has been adjourned and will be resumed on Thursday, according to Buenos Aires financial daily Ambito.com.

Wednesday, July 30th 2014 - 08:02 UTC

Argentine private banks prepared to buy holdouts' credit; Kicillof/Pollack talks to continue today

 “These were the first face-to-face talks between the parties. There was a frank exchange of views and concerns; issues remain unresolved”, said Pollack

“Special Master” Daniel Pollack, the mediator appointed by US judge Griesa to resolve the dispute between Argentina and the speculative funds' holdouts said the parts talked “face to face” for the first time and assured a new meeting will be confirmed during the day. If a deal is not reached Wednesday sunset Argentina could again fall into default.

Wednesday, July 30th 2014 - 07:10 UTC

Cristina Fernandez thanks Mercosur support and again attacked Judge Griesa

The official 'family' picture of Mercosur leaders. Argentina now holds the rotating six-month chair

President Cristina Fernández addressed fellow heads of state at the Mercosur summit in Caracas, where she thanked members of the bloc for their support over the ongoing fight with holdout investors in the New York courts and underlined that Argentina “has paid debt obligations religiously”.

Tuesday, July 29th 2014 - 06:59 UTC

Pollack confirms meeting with Argentina on Tuesday, 24 hours before 'D' day

 Argentina has until Wednesday to either pay the New York hedge funds suing for full repayment on their bonds or reach a deal.

Argentina will sent a negotiation team to New York on Monday for further talks with a US court-appointed mediator Daniel Pollack in its debt dispute with “holdout” investors, Cabinet Chief Jorge Capitanich said earlier, with just two days left to avert a default.

Tuesday, July 29th 2014 - 05:43 UTC

Some Euro-bond holders willing to waive the RUFO clause, says Bloomberg News

The article was credited to Katia Porzcecansky based on a letter from the group's solicitor Christopher Clark

A group of creditors holding about 28% of Argentina's Euro-denominated debt said it would be willing to waive a clause that’s hampering a deal between Argentina and holders of its defaulted bonds from 2001, according to a report by Katia Porzecansky published by Bloomberg News.

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