Tag: Thomas GriesaThomas Griesa
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.
The Argentine government yesterday appealed an order by US Judge Thomas Griesa who asked some private banks to turn over information about Argentina’s assets abroad. The case had been started by hedge fund Elliott Management Corp’s NML Capital Ltd which is demanding in court full 100% payment of Argentine sovereign bonds face value.
US hedge funds fighting Argentina for repayment on defaulted debt asked a US appeals court on Tuesday to lift its hold on a ruling that ordered Argentina to repay the holders.
The U.S. Supreme Court left intact a ruling that may force Argentina to make payments on defaulted government bonds, rejecting that country’s appeal in a clash that has roiled its financial markets. The justices, without comment, on Monday let stand a 2012 U.S. appeals court decision that bars Argentina from making payments on 24 billion in restructured debt unless it also pays owners of the earlier repudiated bonds.
Argentine President Cristina Fernandez has accused part of the United States judiciary of wishing to take Argentina to default, comparing Argentina’s situation with that which currently faces US counterpart Barack Obama.
Argentina appeals Judge Griesa ruling stating central bank reserves are ‘seizable’ for certain purposes
New York Judge Thomas Griesa has ruled against Argentina's request to dismiss a lawsuit over the Central Bank (BCRA) reserves, which if upheld could allow holdout creditors to seize assets belonging to the country.
A court hearing in New York scheduled for Thursday midday between hedge funds holders of Argentine defaulted bond and lawyers for the Argentine government was called off on request from the holdouts.
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.
Argentina lost on Friday its appeal of a ruling that would force it to pay in full holders of 1.3 billion dollars in defaulted debt when it makes a payment to investors who took discounted restructured bonds, opening the prospect for a US Supreme Court appeal, which if it happens will push the litigation into 2014.
The US Supreme Court gave hedge funds another month to present their reply following on the request from the Argentine government to review the sentence handed down by Judge Thomas Griesa and partially supported by the Appeals Court.