United States

United States
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.

Monday, July 28th 2014 - 07:52 UTC

The New York Times calls for legalizing marihuana: “Repeal prohibition again”

The New York Times called for the legalization of marijuana, in a bold editorial comparing the federal ban on cannabis to Prohibition. The prestigious publication said pot laws disproportionately impact young black men and that addiction and dependence are “relatively minor problems” -- especially when compared with alcohol and tobacco.

Monday, July 28th 2014 - 07:11 UTC

Dutch government releases former Venezuelan general retained on DEA request

Dutch government releases former Venezuelan general retained on DEA request

The Dutch government released a former Venezuelan general who was detained on US drug charges when he arrived in Aruba to serve as his country's consul on the Dutch Caribbean island, sending him home Sunday night and defusing a diplomatic fight with its neighbor.

Saturday, July 26th 2014 - 06:56 UTC

Cristina Fernandez will analyze holdouts' case during her stay in Rio Gallegos

The Argentine president left on Friday for Santa Cruz

President Cristina Fernandez left on Friday for Santa Cruz province, where she will stay for the weekend and analyze New York Argentine/holdouts case briefings. The Argentine delegation returned on Friday to Buenos Aires after two meetings with appointed mediator Daniel Pollack in New York, where no resolution was reached.

Saturday, July 26th 2014 - 06:36 UTC

Argentina/holdouts impasse remains; delegation back to Buenos Aires for instructions.

 Consistent with Judge Griesa’s direction ”I anticipate that there will be further communications with the parties prior to the Default date (July 30)” said Pollack

Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors in New York on Friday in talks that lasted just an hour. The Argentine delegation is flying back to seek instructions from its government, mediator Daniel Pollack said, while the country's economy ministry underscored it would continue the dialogue with him over the next few days.

Saturday, July 26th 2014 - 06:04 UTC

Venezuelan general retained in Aruba to be extradited to the US

General Carbajal apparently belongs to the “Cartel of the Suns”, high-ranking military officers believed to have grown rich from drug-running

A judge in Aruba ruled Friday that the highest-ranking Venezuelan official ever arrested on a U.S. warrant will remain behind bars pending an extradition request on drug charges. Hugo Carvajal, a former head of Venezuelan military intelligence and close confidant of the late president Hugo Chavez, was arrested upon arriving at Aruba’s airport, officials said Thursday.

Friday, July 25th 2014 - 05:49 UTC

Holdouts lash out at Argentina: “it is choosing to default next week”

Paul Singer is head of NML Capital, together with Aurelius Capital the two main holdouts litigating with Argentina

NML Capital Ltd, one of the lead holdout creditors in Argentina's sovereign bond dispute said on Thursday the Argentine government refused to negotiate through a mediator and was all but preparing to default on already restructured debt.

Friday, July 25th 2014 - 05:36 UTC

Argentina/holdouts will meet again on Friday; “issues remain unresolved”

The issues separating the parties remain unresolved at this time. The time for the Republic to avoid Default (July 30) is short, said Pollack

Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between Argentina and the holdouts from speculative funds said that Thursday's meeting had failed and announced a new audience for Friday at 10:00 in the morning in New York.

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.

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