Tag: Thomas Griesa

Thomas Griesa
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.

Friday, May 8th 2015 - 07:37 UTC

Argentina denies as 'inexact' any embargo on embassy bank funds in Belgium

Axel Kicillof's ministry was responsible for the release

The Argentine government in a late release on Thursday strongly denied an 'inexact information' related to alleged embargos by speculative funds (or vulture funds) on bank accounts from the Argentine embassy and its staff, in Belgium, and said that the attempts to freeze 'embassy funds' are but a new extortion attempt and a clear procedure abuse which could be sanctioned by Belgian tribunals.

Thursday, April 23rd 2015 - 08:54 UTC

Griesa rules hedge funds entitled to details of recent Argentine bond offering and banks must comply

District Judge Thomas Griesa

U.S. judge on Wednesday ruled that hedge funds suing over unpaid debt stemming from Argentina's 2002 default are entitled to details of a recent bond offering by Buenos Aires.

Tuesday, April 7th 2015 - 07:46 UTC

Argentina appeals to Judge Griesa bar on Citibank to process bonds under local law

Griesa said Argentina can’t pay holders of the performing debt without also paying Paul Singer’s NML Capital that’s owed 1.7bn dollars on defaulted bonds.

Argentina has formally appealed to the New York justice system the ruling handed down by district judge Thomas Griesa, which barred intermediary Citibank from processing US dollar denominated debt services issued under Argentine law and which expired on March 31.

Tuesday, April 7th 2015 - 05:55 UTC

Argentine regulators inspect Citibank, following dispute over accord with hedge funds

Regulators are working to verify whether Citibank was able to maintain normal operations following CEO Gabriel Ribisich's suspension last week

Argentina’s central bank sent regulators to inspect Citibank's headquarters in Buenos Aires on Monday after the head of the branch was suspended amid a legal battle over Argentina's debt. Regulators are working to verify whether the bank was able to maintain normal operations following CEO Gabriel Ribisich's suspension last week, the government news agency Telam said.

Friday, March 27th 2015 - 08:46 UTC

European clearing houses close trading bridges on Argentine law bonds

The decision was part of Argentina's decade long court battle with holdout investors seeking some 1.33 billion plus interest from Argentina.

Clearing houses Euroclear and Clearstream have closed trading bridges on some 9.4 billion of Argentine bonds issued under the country's law. The action will prevent Euroclear customers from settling their trades with Clearstream clients and vice versa, but will not affect trading between customers belonging to the same clearing company, the same source said.

Thursday, March 26th 2015 - 09:20 UTC

Argentina considers Citigroup deal with US Judge Griesa could have violated local law

“Reading the fine print of the deal, what we find is a trap possible aimed at scamming the bondholders,” Kicillof told a news conference in Buenos Aires.

Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.

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