United States

United States
Friday, July 25th 2014 - 05:22 UTC

“The muddled case of Argentine bonds”, as seen by New York Times

“Only now is Judge Griesa learning how complicated life can be for a judge seeking to control actions by a sovereign government”

The following piece was written by Floyd Norris, financial analyst from The New York Times and refers to the complicated process that has emerged from the ongoing battle between Argentina and the holdouts demanding full payment of sovereign bonds, plus accrued interests.

Friday, July 25th 2014 - 05:14 UTC

Argentina insists on Griesa for some insurance against the RUFO clause

The latest release followed a meeting between President Cristina Fernandez and minister Kicillof

After failing to reach an agreement during Thursday's meeting with court-appointed mediator Daniel Pollack, Argentina reiterated that there could be no negotiations with speculative funds or 'vulture funds' until judge Thomas Griesa provides some insurance against possible liabilities related to the 'Rights upon Future Offers' (RUFO) clause.

Thursday, July 24th 2014 - 22:55 UTC

Speculative funds denies any request to temporary suspend payment order

“The story is utter fiction” said Brodsky, chairman of Aurelius Capital Management

Argentine debt holdout investor Mark Brodsky, chairman of Aurelius Capital Management, said his group will not ask US Judge Thomas Griesa to suspend his payment order, after a story in Argentina's La Nacion newspaper on Thursday suggested that Paul Singer’s NML Capital Ltd could ask Griesa to reinstate the stay of injunction as requested by Argentina.

Thursday, July 24th 2014 - 07:01 UTC

In defiant speech CFK openly brushes aside any default “because Argentina has paid”

The Argentine president warned that “they will have to invent a new word to explain how a country has paid its debt and someone blocked it”.

In a defiant speech President Cristina Fernández reiterated on Wednesday that Argentina will “not fall into default” and warned that “they will have to invent a new word” to explain how a country has paid its debt and “someone blocked it”.

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.

Wednesday, July 23rd 2014 - 06:42 UTC

Holdouts want to sit down with Argentina and solve the dispute; 'countdown clock'

Paul Singer, head of NML Capital

Following on Tuesday's audience with Judge Thomas Griesa, NML Capital the leading speculative fund litigating with Argentina, issued a release saying “it is willing to hold a meeting with 'Special Master' Daniel Pollack and Argentina to solve the dispute”.

Wednesday, July 23rd 2014 - 01:10 UTC

Griesa rejects 'stay'; orders Argentina and holdouts to meet 'round the clock' to reach a deal

Griesa said an Argentine default would be “most unfortunate” because it would hurt 'real people' and urged Argentina to take “sensible steps”

US Judge Thomas Griesa rejected on Tuesday Argentina’s request for a suspension ('stay') on the ruling that ordered Buenos Aires to pay 1.3 billion dollars plus interests to holdout speculative funds and instructed Argentina and holdouts to meet on Wednesday morning for a first face-to-face meeting.

Tuesday, July 22nd 2014 - 06:49 UTC

Argentina again requests stay ruling from Judge Griesa to pay restructured bondholders

 Griesa meets on Tuesday with financial institutions to clarify how to enforce ruling requiring payment to restructured bondholders in Euros and sterling.

Argentina asked U.S. judge Thomas Griesa on Monday to put on hold an order requiring it to pay bondholders who did not participate in debt restructurings following the country's 2002 default, while it seeks a “global resolution.”

Friday, July 18th 2014 - 07:32 UTC

US confirms six Guantanamo prisoners will be transferred to Uruguay

The jail in Guantanamo still holds over 140 prisoners from the war on terrorism launched by former president George W. Bush

President Barack Obama's administration has discretely notified Congress of its intention to transfer to Uruguay six prisoners from the U.S. base in Guantanamo, Cuba, according to the State Department.

Thursday, July 17th 2014 - 07:20 UTC

CFK says BRICS support Argentina in the holdouts dispute, but where’s the document?

Dilma Rousseff will be taking a proposal on sovereign debt restructuring to the G20 summit in Australia, according to the Argentine president

President Cristina Fernandez assured that Argentina received the support from the group of BRICS countries (Brazil, Russia, India, China and South Africa) in its struggle against the holdout speculative funds, during the two summits held in Brazil, in Fortaleza and Brasilia.

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