Tag: Thomas GriesaThomas Griesa
US Court of Appeals for the Second Circuit in Manhattan this Wednesday morning will hear Argentina’s appeal against US Judge Thomas Griesa’s order to Argentine banks to provide information on the state’s assets.
Argentine argues before NY Appeals court the central bank is not an 'alter ego' of the administration
Lawyers representing the Argentine government and the Central Bank have defended the country's stance on the debt conflict in a hearing with the New York Second Circuit Appeals Court, rejecting the notion that holdout investors could confiscate reserves or assets belonging to the financial entity.
Argentina's government offered this week to make full early payment on a local dollar-denominated bond to head off speculation that its legal battle with U.S. hedge funds will make it unable to service its debt.
US Federal judge Thomas Griesa has rejected a request by European investors seeking payment on Argentine titles currently blocked in New York, despite an ongoing parallel court battle over the issue in London.
Demands against Argentina by so-called “me-too” bondholders, who are asking to be paid in the same conditions as Elliot and Aurelius Managment holdouts, are starting to pile up as holders of Argentine bonds issued under German law who didn’t take part of the country’s debt swap filed a new complaint at a United States court to demand full payment.
New York District judge Thomas Griesa has authorized Citibank to complete the transfer of 85 million dollars to holders of restructured Argentine bonds under Argentine law, meeting debt services that expire on December 31.
Argentina told New York district judge Thomas Griesa that bondholders filed 25 lawsuits since June, when the judge ordered blocking the country's from paying its restructured debt without also paying a group of holdouts, Bloomberg news has reported.
Argentine Central bank chief Alejandro Vanoli, said the country will be not getting down on its knees in a negotiation with 'vulture funds' (hedge funds), once the January first date comes and the controversial RUFO clause, (preventing Argentina from voluntarily offering holdout creditors better terms than those of its 2005 and 2010 restructurings), falls.
Argentina on Monday asked the Second Circuit Court of Appeals to overturn a federal judge’s finding that it is in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated.
Argentine Cabinet chief Jorge Capitanich called bondholders to “take legal action against (US Judge Thomas) Griesa instead of demanding the acceleration of (Argentine) bonds,” following rumors that Owl Creek Asset Management LP is discussing the formation of a group to demand immediate repayment on bonds.