Tag: Vulture funds

Vulture funds
Saturday, August 16th 2014 - 11:32 UTC

Trust in Argentine reliability has vanished, as a result of the bonds' litigation

Cristina Fernández said the collapse of a private deal proved what she has long said: 'vulture funds' do not want to reach an agreement

Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.

Saturday, August 16th 2014 - 08:45 UTC

Global trade union summit condemns actions of vulture funds against Argentina

 Workers' worldwide “mass support shows international condemnation of the speculative actions of vulture funds”, said the former union leader Ms Castro

The International Transport Workers’ Federation passed on Friday a motion condemning the actions of the 'vulture funds' against Argentina and calling ”not to allow the vulture funds to paralyze the debt-restructuring processes of developing countries or prevent states from exercising their right to protect their citizens under international law”, according to a release from the Argentine embassy in London.

Wednesday, August 13th 2014 - 22:29 UTC

Majority of Argentines fear consequences of the default and favor continuing negotiations

Support for Cristina Fernandez has also dropped during the last month in parallel with the ongoing drop in consumers' confidence

A majority of the Argentine electorate is pessimistic about the consequences of the 'selective default' on the economy, but considers that negotiations with the 'holdouts' must continue, according to a public opinion poll from Poliarquia which also showed that support for president Cristina Fernandez has fallen during the last month.

Wednesday, August 13th 2014 - 06:57 UTC

“Homeland or Vultures” militants rally in support of Cristina Fernandez

“Cristina Fernandez de Kirchner's leadership is guaranteed beyond 2015” said Andres Larroque, head of the Kirchnerite youth, La Campora

Thousands of Argentine pro government activists gathered at the Luna Park stadium in Buenos Aires City, to express their support in favor of President Cristina Fernández stand against the so called holdouts (or 'vulture funds') as well as her continuity at the head of the Kirchnerite project.

Monday, August 11th 2014 - 01:54 UTC

Argentina/holdouts, a clash between 'global financial power and political power'

Supreme Court Judge Zaffaroni: the major scandal is not Griesa, a provincial judge, but the US Supreme Court

A Judge from Argentina's Supreme Court joined the ongoing battle in New York between the Argentine government and the holdouts and slashed out at the US Supreme Court for rejecting to take the case back in June. Eugenio Zaffaroni argued that the conflict must be addressed in the context of “attacks from the global financial power on political power”.

Saturday, August 9th 2014 - 07:45 UTC

Despite warning, Kicillof again defies and again accuses Griesa of 'partiality'

 The statement from Kicillof's ministry said “Judge Griesa continues contradicting himself and the facts by saying that Argentina did not pay”

Economy ministry Axel Kicillof once again defiantly insisted Argentina has made a required debt payment on restructured sovereign bonds on Friday night, just hours after a U.S. judge threatened a contempt-of-court order if Argentina did not stop issuing such statements.

Saturday, August 9th 2014 - 07:34 UTC

Griesa warns Argentina with 'contempt' if it continues with “false and deceiving statements”

Blackman said his firm had nothing to do with the two-page ad and appealed to Griesa to consider that Argentina's default was of “immense public interest”

New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank.

Friday, August 8th 2014 - 08:57 UTC

Argentina urges Obama to intercede in holdouts case: Griesa is 'interfering with US foreign policy'

“The US has to be responsible for its justice. We hope to settle this case in an international court” said Cristina Fernandez

Argentine President Cristina Fernández on Thursday urged US President Barack Obama to intercede in the dispute between Argentina and holdouts over Argentine debt, while blasting New York judge Thomas Griesa for “not making any sense”.

Friday, August 8th 2014 - 08:49 UTC

The Guardian: How Barack Obama could end the Argentina debt crisis

President George W Bush invoked 'comity' power and blocked Singer's seizure of Congo-Brazzaville's US property

By Greg Palast (*) - US president need only inform a federal judge that vulture fund billionaire Paul Singer is interfering with the president's sole authority to conduct foreign policy. He hasn't. But why not?

Friday, August 8th 2014 - 07:09 UTC

Griesa summons hearing for Friday; Argentina launches proceedings against the US in The Hague

 Griesa has ordered the Bank of New York to hold the Argentine funds and has said Argentina's attempt to pay restructured bond holders was illegal.

New York District judge Thomas Griesa has scheduled a hearing at 4 pm local time on Friday to address Argentina's recent public statements over their attempts to pay creditors, a court official said. Representatives from both Argentina and holdout investors have been called to the hearing, which will take place in New York.

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