Tag: Vulture funds

Vulture funds
Thursday, July 31st 2014 - 07:05 UTC

Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts

According to Kicillof, Judge Griesa is allowing 1% of holdouts to block 92.4% of bondholder from collecting their coupons

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors and special mediator Daniel Pollack ended without a settlement on Wednesday.

Thursday, July 31st 2014 - 06:55 UTC

Argentine private banks discussing bond purchase from holdouts

Banker Palla was a member of ex-Minister Lavagna team that negotiated the restructuring of Argentine sovereign debt

The meeting between Argentine private bank representatives and the 'holdouts' over the debt held by the hedge funds has been adjourned and will be resumed on Thursday, according to Buenos Aires financial daily Ambito.com.

Thursday, July 31st 2014 - 01:15 UTC

“Argentina will imminently be in default: no agreement was reached”, said Pollack

Special Master said default is not a mere “technical” condition, but rather a real and painful event that will hurt real people

“Unfortunately no agreement was reached and Argentina will imminently be in default”, admitted Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between Argentina and its holdout bondholders. Pollack emphasized that with default “the ordinary Argentine citizen will be the real and ultimate victim”.

Tuesday, July 29th 2014 - 05:27 UTC

Griesa eases bond payments agenda; Argentina complies with the Paris Club

“This court does not wish to affect the agreement with Repsol,” Griesa commented on passing his judgment.

New York judge Thomas Griesa has confirmed that the Citigroup bank will on a one-off occasion be permitted to process payment on Argentine bonds held under Argentine law, which form part of the titles restructured following the default of 2001.

Wednesday, July 23rd 2014 - 06:51 UTC

Argentina claims Griesa is blocking bondholders money and using 'vulture funds' language

Kicillof and Cristina Fernandez met for several hours before making official the release late Tuesday

Argentina reacted strongly to Tuesday's events in the New York federal court which denied its stay request, claiming Judge Thomas Griesa “did not solve absolutely any of the issues for which he summoned today's audience”, insisting with his “unbelievable ban” on structured bonds' collecting their payment.

Thursday, July 17th 2014 - 07:14 UTC

CFK admits having to pay 300% profit on holdouts’ dollars, but never 1.680% as pretended

In an impassionate 26 minute speech the Argentine leader called for support in the battle with holdouts

Argentine President Cristina Fernández rejected on Wednesday the possibility of a new default during the UNASUR-BRICS meeting in Brasilia, highlighting Argentina is going to “keep on paying and honoring its debt,” while asking for support against the “so called vulture funds,” who are “pretending to collapse the Argentine debt restructuring.”

Thursday, July 17th 2014 - 05:39 UTC

“K” economist claims holdout hedge funds are after Argentina’s shale resources

 Economist Agustín D’Atellis bashed ‘vulture funds’

The holdout speculative funds or “vulture funds” are going after Argentina’s resource-rich Vaca Muerta region and are seeking to threaten the government with a “technical default” scenario, economist Agustín D’Atellis.

Wednesday, July 9th 2014 - 08:14 UTC

Mediator Pollack will receive Argentine delegation Friday in follow up meeting

“The discussions have been frank, the principal issues have been identified, and the parties have indicated an intention to continue meeting”, said Pollack.

Argentina confirmed on Tuesday that the delegation headed by Economy Minister Axel Kicillof will continue talks with mediation Daniel Pollack, next Friday in New York, a 'follow up' of Monday's first appointment.

Tuesday, July 8th 2014 - 08:20 UTC

Leading holdout hedge fund willing to give Argentina more time to negotiate

“The silence from Argentina is deafening. It does not appear serious about reaching a timely resolution of its debts”, said Newman in a FT column.

Elliott Management portfolio manager Jay Newman has revealed that the holdout hedge fund would be willing to give the Argentine government more time to negotiate following the nation's reverse in the US Supreme Court, while criticizing Economy minister Axel Kicillof for not meeting with the so-called 'vulture funds'.

Saturday, July 5th 2014 - 08:48 UTC

The Economist on Argentina: “The Luis Suarez of international finance”

 Viveza criolla has been a hallmark of Argentine economic policy under both President Cristina Fernández and her late husband and predecessor, Néstor Kirchner.

In its latest edition The Economist writes about Argentina’s debt stand-off, and states this “reflects a teenage attitude that rules are there to be broken”.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement