Tag: Thomas Griesa

Thomas Griesa
Saturday, October 31st 2015 - 07:04 UTC

Griesa accepts 'me too' claims and raises Argentina's bond debt to US$ 9bn

Griesa said the 530 bondholders behind the 49 complaints have the same claim to be paid the full value of their defaulted bonds as NML Capital and Aurelius

US judge Thomas Griesa on Friday accepted the priority repayment claims of hundreds more Argentine bondholders who did not join a huge debt restructuring. The ruling, on 49 complaints representing debt worth $6.1 billion, added fresh pressure on Buenos Aires which has refused to pay off two hedge fund creditors that already won court support for their claims.

Thursday, October 29th 2015 - 06:31 UTC

Argentina: Holdouts dispute, a Cristina Fernandez legacy for the next government

Griesa said he assumed Argentina's refusal to negotiate “at this late date in this very lengthy litigation that attitude is over with”

US District Judge Thomas Griesa of New York on Wednesday urged Argentina to resume talks to settle bondholder litigation flowing from its $100 billion default in 2002. The judge made the remarks as creditors suing over defaulted bonds urged him to expand to nearly $8 billion the amount Argentina must pay them to service its restructured debts.

Saturday, October 24th 2015 - 08:40 UTC

Holders of Argentine Euro bonds demands BONY services debt or faces lawsuit

The group of Euro bondholders, including Soros, said BONY is no longer eligible to act as a trustee because it can’t comply with appointment conditions

Investors holding euro-denominated Argentine bonds, including billionaire George Soros, called on trustee Bank of New York Mellon yesterday (BONY) to turn over its duties to state-owned Banco Nación so they can get paid the 225 million euros currently frozen by United States District Judge Thomas Griesa’s orders.

Friday, October 23rd 2015 - 08:39 UTC

Judge Griesa rules in favor of 'me too' Argentine bond holders suing for full payment

“Me too” holdout bondholders seek the same relief as several hedge funds who had secured a ruling ordering Argentina to pay it $1.33 billion plus interest.

U.S. judge ruled on Thursday that holders of $234 million in defaulted Argentine bonds suing for full payment had been treated unequally to creditors who had participated in the country's past restructurings.

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.


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