Tag: Vulture fundsVulture funds
The US Supreme Court has confirmed that Brazil, Mexico and France have officially presented their opinions on an appeal currently being studied in the judicial authorities, which relates to the litigation held against Argentina by the hedge funds which the administration President Cristina Fernandez refers to as 'vulture funds'.
US Secretary of State, John Kerry has rejected the possibility that the Barack Obama administration would side with Argentina in the long-standing dispute with hedge funds over the defaulted bonds from the 2001/2 meltdown. Still the US official praised what he considered some “positive steps” by the Cristina Fernandez government.
The Obama administration filed an ‘Amicus Curiae’ measure before US Supreme Court, supporting Argentina’s position in the dispute with the hedge funds which the government of president Cristina Fernández refers to as ‘Vulture Funds’.
Paul Singer, head of Elliot Management Corp., defined as “bizarre”, the bondholders’ offer to resolve judicially the dispute with Argentina over the debt in default from 2001, during in a letter sent to investors and published by Bloomberg News.
Paul Singer, CEO of hedge fund Elliott Management Corporation and who is litigating Argentina demanding full payment of defaulted bonds described Argentina's government policies as 'horrendous' and stated that 'talking' he could settle the dispute 'in an afternoon'.
The US government has asked the US Supreme Court to intervene over a hedge fund's effort to gain information about Argentina's non-US assets as part of an ongoing litigation, which is rapidly becoming a lead case regarding sovereign assets and sovereign debts rescheduling.
Argentina's cabinet chief on Monday hit back at the United States reacting to comments from the White House on the Argentine central bank reserves saying he was worried about the US and UK debt levels, the US debt reaches over 100% of GDP.
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.
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.
The US Supreme Court was scheduled to meet behind closed doors on Monday to decide whether to hear a high-profile appeal by Argentina over its battle with hedge funds that refused to take part in two debt restructurings that sprang from the country's 2002 default.