Tag: Thomas Griesa

Thomas Griesa
Tuesday, October 6th 2015 - 07:28 UTC

Victory for Argentina in its ongoing battle with speculative funds

Appeals court upheld a ruling from Judge Griesa, agreeing that plaintiffs were not entitled to possess the funds and did not have rights to the money superior to that of BNY Mellon.

The 2nd US Circuit Court of Appeals in New York refused on Monday to force Bank of New York Mellon Corp to turn over to holders of defaulted Argentine bonds any of the $539 million the country deposited in 2014 to pay creditors who participated in its past restructurings.

Thursday, September 17th 2015 - 08:32 UTC

Appeals court hands victory to Argentina in bonds dispute; questions Judge Griesa's 'class' expansion

Judge Wesley noted that defining a precise class to which Argentina owes damages and calculating those damages have been “exasperating tasks.”

A United States federal appeals court handed Argentina a victory Wednesday in its quest to relieve itself of the pressures of debt owed to American hedge funds and others, saying a judge went too far by letting some bondholders demand payment without proving how much they are entitled to be paid.

Tuesday, September 1st 2015 - 06:59 UTC

US Appeals Court backs Argentina: sovereign immunity for Central bank funds

Griesa had opened the door for the hedge funds to seize assets of the central bank held in US banks in lieu of payment.

A US appeals court supported Argentina's appeal Monday against an earlier ruling that could have permitted a group of creditors to seize assets of Argentina's central bank.

Thursday, August 13th 2015 - 06:45 UTC

Griesa sanctions Argentina for not turning in information on assets

Griesa agreed with NML that Argentina should be punished for failing to turn over evidence that the fund wants to use to discover assets.

New York district judge Thomas Griesa has said he will consider all Argentine government assets in the United States, except for diplomatic and military ones, as commercial assets which hedge fund NML Capital could try to seize.

Tuesday, August 11th 2015 - 07:55 UTC

Argentina wins a battle in its ongoing struggle with hedge funds

The 2nd U.S. Circuit Court of Appeals ruled that Judge Griesa had improperly expanded a class of bondholders who were seeking repayment

Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million.

Saturday, August 8th 2015 - 08:54 UTC

Argentine embassy in US launches website on the struggle with 'vulture funds'

The website is called “All about the Argentine Debt Case”, and is divided in several sections.

The Argentine Embassy in the United States has launched a website to explain the conflict between Argentina and holdout investors commonly referred to as “vulture funds”. The website explains the origins of the conflict, its history, and provides documents and expert opinions on the subject. Its virtual library has until now over 200 documents and 100 independent sources.

Saturday, June 6th 2015 - 08:00 UTC

Argentine debt climbed 5.4bn of Friday following Griesa's ruling favoring 'me too' bond holders

Griesa said the “me-too” creditors held bonds that were substantially similar to those held by the hedge funds and thus should be treated the same way.

Argentina must pay US$5.4 billion to more than 500 “me-too” holders of defaulted debt before it can pay the majority of its creditors, a US judge ruled on Friday. Argentina anticipated it would appeal the ruling.

Tuesday, June 2nd 2015 - 05:32 UTC

Argentina states 'lack of confidence' in mediator Pollack named by Judge Griesa

“It is impossible to hold negotiations right now due to the plaintiffs' persistence in carrying out actions which harm the Republic” said the letter signed by Boccuzzi

The Argentine government has turned down a plea from mediator Daniel Pollack to return to the negotiating table with holdout investors, with the Economy Ministry considering that talks with the speculative funds, so-called 'vulture funds', would be inappropriate given the behavior of the litigants.

Tuesday, May 12th 2015 - 06:25 UTC

Argentina reacts to hedge funds attempt to block a fresh debt emission

“It is nothing more than another desperate attempt, after the vulture funds' failure in their efforts to stop the recent auction” said Ministry Kicillof

Argentina has launched a stinging attack on hedge funds attempting to block payment on last month's Bonar 24 debt issuance, stating that the petition shows the 'vulture funds' desperation following the successful auction.

Saturday, May 9th 2015 - 09:57 UTC

Argentina will file complaints against speculative funds in Belgium

Minister Kicillof making the announcement and describing speculative funds as “despicable and repugnant”

Economy Minister Axel Kicillof confirmed the Argentine government will be filing a complaint against speculative or 'vulture' funds for seeking to seize the accounts of the Argentine embassy in Belgium, and the Argentine mission before the EU in Brussels, adding hedge funds are the most “despicable and repugnant” of the world financial system.


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