Tag: Vulture funds

Vulture funds
Tuesday, September 29th 2015 - 05:17 UTC

Cristina Fernandez points her guns to the US and 'vulture funds', but no word on the Falklands

In her last address, the president defined the AMIA case “as a spider's web of foreign interests, in which the weakest and smallest are trapped”.

Addressing the UN General Assembly, President Cristina Fernandez accused the United States of 'protecting' a former Argentine intelligence agent, blasted the speculative or 'vulture funds', gave details of the Iran-US-Argentina dealings and to everybody's surprise did not mention a word about the Falkland Islands sovereignty claim.

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.

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.

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.

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.

Thursday, March 26th 2015 - 08:22 UTC

Griesa blocks Euroclear from processing any Argentina bonds payments

 Griesa, also said that Euroclear has to notify the hedge funds of any transfers of Argentine bonds and identify the parties involved.

New York judge Thomas Griesa on Wednesday barred Euroclear, the giant Belgium-based financial clearing and settlement house, from processing any debt payments by Argentina. In the newest step tightening Buenos Aires' avenues for avoiding paying off hedge funds on their bonds, Griesa forbade Euroclear from processing “any payments received from any source” in respect to Argentine bonds.

Wednesday, March 25th 2015 - 07:30 UTC

New York Court of Appeals delays decision on Argentina's contempt of court

Judge Griesa moved against Argentina due to its refusal to pay 1.35 billion dollars plus interest and penalty charges to the hedge funds

The New York Court of Appeals has decided to push back its decision on Argentina for another week, as the Cristina Fernandez administration seeks to overturn the contempt ruling imposed by judge Thomas Griesa in the ongoing conflict against holdout investors.

Saturday, March 21st 2015 - 05:55 UTC

Cristina Fernandez warns Citibank must comply with Argentine law

Banks operating in Argentina “must obey Argentine laws, just like in every country. We're no different,” the president said.

President Cristina Fernandez warned on Friday that banks operating in Argentina must obey its laws, amid a row over Citibank's refusal to defy a US court order blocking Buenos Aires from repaying its restructured debt. At the end of the month, 31 March, Citibank as custodial has to pay Argentine restructured bonds.

Wednesday, February 25th 2015 - 05:27 UTC

Argentina will appeal on Thursday Judge Griesa's 'contempt of court'

Kicillof said the 2nd US Circuit Court of Appeals in New York has sent no “warning” to Argentina regarding a contempt order

The Argentine government will present on Thursday its appellant’s brief over the contempt of court ordered by New York Judge Thomas Griesa, the Economy Ministry has confirmed. Griesa had ruled Argentina in contempt of his orders due to working on a plan to shift control over payments of its restructured debt to Buenos Aires.

Saturday, February 21st 2015 - 05:17 UTC

Argentina suggests Judge Griesa to remove Pollack, since he favors 'holdouts'

”It is very clear where Pollack stands, in favor of the vulture funds (holdouts) and if he takes his coat off you can see his feathers”, argued Kicillof

Argentina's Economy minister Axel Kicillof suggested on Friday that no negotiation is possible with the holdout funds as long as 'special master' appointed by US Judge Thomas Griesa continues in his post, since ”he clearly favors 'vulture funds' (holdouts)”.


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