MercoPress. South Atlantic News Agency
UK Supreme Court rules against Argentina in defaulted sovereign bonds case
A hedge fund owner of defaulted Argentine debt can try to seize government assets held in Britain as it seeks to recover the full face value of the bonds, Britain's Supreme Court said in a ruling on Wednesday. Read full article
Comments
Disclaimer & comment rulesChuckle chuckle, one more nail in coffin ............
Jul 07th, 2011 - 07:53 am - Link - Report abuse 0We have legal ways of making you pay.
Don't worry we can freeze brits assets the same way here ha ha.
Jul 07th, 2011 - 03:31 pm - Link - Report abuse 0And they are more than anything you can freeze in Ukistan.
would be very funny to see who will suffer more. Don't to think so?
I don't think he understood Beef.
Jul 07th, 2011 - 03:48 pm - Link - Report abuse 0What assets? I was kind of wondering why it is that Argentines don't keep their money in Argentina when it is such a dynamic, economic power? I have lost count of the times I have stayed at Argentine owned hotels and they have requested payment into foreign bank accounts.
Jul 07th, 2011 - 04:08 pm - Link - Report abuse 0This bond situation is a mess and I wouldn't wish it on any country. I think, for the sake of Argentina's future, the bond holders should be looking to settle as best they can. The only reason I think some bond holders have held out is the attitude of the Argentine government.
TWIMC
Jul 07th, 2011 - 04:40 pm - Link - Report abuse 0Sheer good news…..
The article says:
”That has hampered Argentina's bid to return to global debt markets nine years after its default.”
I say:
Anything that hampers Argentina's return to global debt markets is more than welcome.
It allows us to continue unhampered with our successful heterodox economical policy and it keeps our orthodox economists and politicians at bay.
Besides, this British Supreme Court rulewill certainly drive Argentina to the unhampered withdraw of any existing assets in the UK.
Chuckle chuckle™
To late to withdraw Think!
Jul 07th, 2011 - 05:21 pm - Link - Report abuse 0Nico - how can you arbitrarily freeze assets. This would require a court to order such an action after a case has been presented. Don't tell me the rule of law means nothing in Argentina? Perhaps you could append it when you try to claim the Falkland Islands in the ICJ?
Did you go to the Marcos school of law Nico.
Not to late to withdraw Mr. Beef...
Jul 07th, 2011 - 05:29 pm - Link - Report abuse 0You are always telling how well informed the British are....
Please inform yourself.
Actually Think, you will find that it is too late to withdraw any assets. Assets are not held in instant access cash accounts you know and as the supreme court has ruled, there are legal procedures to halt such scandalous behaviours.
Jul 07th, 2011 - 05:50 pm - Link - Report abuse 0Toxic debt, a nasty affliction isn't it?
Actually Mr. Beef, you are dead wrong in this one..........
Jul 07th, 2011 - 06:08 pm - Link - Report abuse 0You didn't even bother to check, you are just wrongly assuming.......
Besides, I strongly believe that most official Argentinean assets in the UK have been withdrawn years ago.
Toxic debt, a nasty affliction all right!
Argentina is out of it...
Britain is up to its neck on it.
A bit childish, this discussion “You take my money, I'll take your money but more so!”
Jul 07th, 2011 - 06:50 pm - Link - Report abuse 0No Think, the UK has no toxic debt. Our debt is not toxic by any definition.
Jul 07th, 2011 - 09:46 pm - Link - Report abuse 0Let us see if your gvt can now withdraw any assets it has in the UK? Apparently it doesn't have any, well that is a claim. Your gvt claims many things, shame it can't deliver.
UK has no toxic debt?
Jul 08th, 2011 - 12:34 am - Link - Report abuse 0Beef must live under a rock.
February 26, 2009
“Taxpayer to guarantee £600 billion of toxic debt in effort to save ailing banks”
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5805254.ece
(11) Beef
Jul 08th, 2011 - 01:22 am - Link - Report abuse 0You seem to have quite a problem with “definitions” lad…………
** ”The UK has no toxic debt. Our debt is not toxic by any definition.” **
Chuckle chuckle™……………
Why are you in debt a all Argentina? You have plenty of natural resources. As the Aussies say, “have a go, mate”!
Jul 08th, 2011 - 08:59 am - Link - Report abuse 0“Taxpayer to guarantee £600 billion of toxic debt in effort to save ailing banks”
Jul 11th, 2011 - 03:45 pm - Link - Report abuse 0A article printed in 2009 is as relevant today as is the Argentinians claim to the Falkland Islands.
This court ruling must have come as a bit of a suprise to Argentina; most people think that a default or a rescheduling writes off all or a defined percentage of the debt.
Jul 11th, 2011 - 07:13 pm - Link - Report abuse 0Waiving immunity to issue bonds re-opens the can of worms and gives those refusing to settle for partial re-payment the right to tap Argentinean assets held in the UK.
So, Argentina says “we have NO assets in the UK, none in Belgium, and none in Switzerland”.
Well, if you believe this, you believe that no money, clean or dirty, passes from Argentina into the world money markets.
I suppose it might be just possible ;)
but is it likely that the Argentinean political elite do not have Swiss bank accounts . . . I ask you!
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!