MercoPress. South Atlantic News Agency
Investors holding restructured Argentine bonds also appealed Judge Griesa’s ruling
Investors holding 1 billion dollars worth of restructured Argentine debt said they also appealed to US District Judge Thomas Griesa’s ruling that they fear would trigger another default and prevent them from being paid principal and interest due on their bonds next month. Read full article
Comments
Disclaimer & comment rulesLook, you lent money to Argentina, what, exactly did you expect to happen, get paid back, think again!
Nov 27th, 2012 - 05:57 am - Link - Report abuse 0They got nearly 50 billion USD in reserves, so they can more than afford to pay the total debt owed especially if all thats due is 24 billion!!
Nov 27th, 2012 - 07:32 am - Link - Report abuse 0I could imagine these investors winning this case but for the fact that Griesa has ordered they pay the holdout cash into an escrow account prior to the final court decision. I think he's done that to test whether Argentina is going to choose to be a scofflaw prior to judgement.
Nov 27th, 2012 - 09:11 am - Link - Report abuse 0Argentina has signed an affadavit saying it will abide by the court so one must assume they will pay it in. Will they then choose to leave themselves in a situation where they pay the holdouts and default on the rest - the worst of all worlds for them?
@1 Actually at the time of the original loans, yes, they did expect to be paid back. It was a different Argentina then, expected to grow and develop.
Nov 27th, 2012 - 09:31 am - Link - Report abuse 0Mercopress employees don't never understand economy to comment.
Nov 27th, 2012 - 10:40 am - Link - Report abuse 05 emerald
Nov 27th, 2012 - 10:47 am - Link - Report abuse 0I imagine their office cleaner understands it better than CFK
#2 saying you have X reserves and actually have it are two different things. Why to you think it took a month the get the naval cadets home?
Nov 27th, 2012 - 11:25 am - Link - Report abuse 0An interesting read:
Nov 27th, 2012 - 11:45 am - Link - Report abuse 0http://www.businessinsider.com/why-argentina-is-such-an-economic-mess-2012-11
The entities that agreed the original haircut were mainly banks who passed their losses on the their customers in the bad debt account. They already have been recompensed, albeit by everyone who banks with them, not the scofflaws of AG.
Nov 27th, 2012 - 11:49 am - Link - Report abuse 0Now they are worried they are going to get screwed again! When you debate with the devil you get screwed.
I hope that a default does happen and AG get further marginalised by the business community and help bring this despotic government down.
They could of course always put their money where their mouth is and pay everyone what they are owed and end the matter in their favour. It would mean that the USD 46 Bn needs to exist. Anybody what to take bets on that one?
Another good read
Nov 27th, 2012 - 12:36 pm - Link - Report abuse 0“Why I’m happy for Argentina to default”
http://www.moneyweek.com/investments/stock-markets/emerging-markets/new-world-argentina-default-61600
“Mexico, Colombia, Peru and Chile have all combined economic growth with important reforms. Recognising what they have in common, this year they formed the Pacific Alliance – a regional bloc dedicated to boosting trade between members and with the rest of the world.”
#9 Chris they become more and more marginalized each and every day, forcing them to rely on domestic econonics. And from all the articles they are not bearing any fruit as well.......more rail strikes, teachers strikes and now hospitals on strike, trash collection issues. Now neighboring Paraguay finding oil. Maybe it's time for a bit of reflection in the peronist party because something tells me they are not partying over they state capitalism policies.
Nov 27th, 2012 - 01:16 pm - Link - Report abuse 0I suspect that if the rulings go against Argentina and there is a technical default, CFK will just keep all the money. It would be the only way she could save face and make political hay of it all.
Nov 27th, 2012 - 01:16 pm - Link - Report abuse 0Mr. Sean O’Shea, that bombasting, noisy lawyer representing Gramercy (I cannot prove it but I have been suspectin for years that high ranking Ladroprogresistas have their personal interest in that fund ... IF there were a “vulture” in the Argentine default story that is the ONE), has already got Judge Griesa's reply LOL
Nov 27th, 2012 - 01:43 pm - Link - Report abuse 0http://www.urgente24.com/207807-griesa-rechazo-pedido-de-bonistas-plan-b-y-reapertura-del-canje?pagination=show
(This) game OVER !
More about Gramercy's role on the next occasion ;-)
The trouble is it's never quite game over. You can clutch a clove of garlic and stab the corpse of Argentina with a silver dagger and it will still come bouncing back like the Black Knight.
Nov 27th, 2012 - 02:24 pm - Link - Report abuse 0Some sort of cage is in order.
@14 Idlehands
Nov 27th, 2012 - 02:40 pm - Link - Report abuse 0Wow! I was wrong ... for long years I've been thinking of is as a political-criminal affair, more than just high risk finance ... now I know: SORCERY first of all LOL
Incidentally, for anybody who missed them, here are Judge Griesa's replies:
“ The motion listed as document number 401 for case 08-CV-6978 -Motion to Vacate -is denied. ”
“ The motion listed as document number 402 for case 08-CV -6978 -Motion to Appear as Interested Non-Parties -is denied. ”
And now let's move the fun (hopefully ... touching wood!) back to the 2nd Circuit Court of Appeals.
[ 4
Nov 27th, 2012 - 03:15 pm - Link - Report abuse 0Malaysian Prime Minister Najib Abdul Razzak and his onetime close friend
Abdul Razzak Baginda are the “ priority witnessess” in an investigation into bribes and kickbacks amounting to about € 150 millions in the sale of Scorpene submarines to the Malaysian Ministry of Defense that the French Authorities probing the scandal ......................
What is your opinion on this case ?
Yup, Gramercyh et al appealed and got told to get lost. Don't we all just LOVE watching argieland sinking into the morass? Let's see a move asap to seize EVERY argie asset. Don't forget to check Swiss bank accounts. All those with argie debts can be paid and everyone else can have a holiday at CFK's expense!
Nov 27th, 2012 - 03:23 pm - Link - Report abuse 016 LightThink
Nov 27th, 2012 - 03:24 pm - Link - Report abuse 0Uhh ??? Nothing like staying on topic.
Some details here:
http://wikibin.org/articles/scandals-of-najib-tun-razak.html
He's a crook by the look of it.
@16 Don't care. It's not a problem in the South Atlantic.
Nov 27th, 2012 - 03:26 pm - Link - Report abuse 0That was a special question to the comment 4 owner .
Nov 27th, 2012 - 03:43 pm - Link - Report abuse 0Comment removed by the editor.
Nov 27th, 2012 - 04:15 pm - Link - Report abuse 0@21
Nov 27th, 2012 - 04:18 pm - Link - Report abuse 0goodbye sussie - we have your details
(13) Nonacchiapperestenemennounaliradanoi ;-)
Nov 27th, 2012 - 05:25 pm - Link - Report abuse 0And what about Sr. Tullio Zembo.........?
Is he also a “bombastic, noisy Ladroprogresista with a personal interest?”
http://www.pagina12.com.ar/diario/elpais/1-208624-2012-11-26.html
agent999....think sussie will ever get it that her nonsense is not being tolerated? lol
Nov 27th, 2012 - 06:04 pm - Link - Report abuse 0@24 Think
Nov 27th, 2012 - 06:43 pm - Link - Report abuse 0Thank you for your good wishes (that unfortunately cannot be understood by the majority of forumers here, who don't master the Italian language like you ... you write almost as a native Italian speaker, I sincerely congratulate you).
What is promising lately it is the noiser and noiser Ladroprogresista propaganda, meaning that louder and louder, deeper and deeper cracks in their populistic and corrupt regime have to be blurred.
For example it is quite amusing to read today:
Moyano denuncia a Anibal Fernandez “para cerrarle esa boca de letrina” LOL
And about Mr. Tullio Zembo, occasionally (for me the last time before today's was about two and a half years ago, on occasion of the second bond exchange offer) we read something weird by him on Argentine media in Spanish or Italian.
We understood that he is an Argentine lawyer of Italian descent (living and doing business in Argentina since 1986: quite possibly he has Italian citizenship too). In the past he was looking for clients (as a lobbyist and/or lawyer) among Italian Tangobond holders. He got very few if any.
What Mr. Zembo has told today to Pagina 12 interviewer it is just his own opinion, or possibly he has been paid a fee for saying that: he his a professional lobbyist.
He DOES NOT represent any group or association of Italian holdouts and I doubt that he represents Italian holders of exchange bonds as well.
Before you mentioned that Pagina 12 article, we had already detected another shameful piece of Ladroprogresista propaganda in www.infonews.com mentioning this Mr. Zembo, allegedly “representing 450,000 Italian bondholders who accepted the debt haircut” LOL LOL
Insanity or just a stupid lie ... you choose please.
1) he dos not represent any Italian bondholder,
2) (in excess of) 450,000 was the number of Italians who made the mistake to invest in Argentine bonds: probably about 2/3 of them were sadly tendered in the two big exchanges (the 3rd one was just a Xmas gift for Boudou's friends).
Feel the love !!
Nov 27th, 2012 - 08:22 pm - Link - Report abuse 0Comment removed by the editor.
Nov 27th, 2012 - 09:05 pm - Link - Report abuse 0What's next......my winning powerball ticket before any of that happening
Nov 27th, 2012 - 09:18 pm - Link - Report abuse 014 Idlehands
Nov 27th, 2012 - 09:25 pm - Link - Report abuse 0LOL
“I am the Black Knight, none shall pass”
Here we are the copy & paste king is back in town!
Nov 27th, 2012 - 09:27 pm - Link - Report abuse 0Ignore ProRG, he's pasting this rubbish in lots of threads.
Intersting case where the vast majority of the creditors are on the side of the debtor =)
Nov 27th, 2012 - 09:46 pm - Link - Report abuse 0#4 You mean back in Menem's day? The good old days for you!
No BK....you still fail miserably in finance. They do not want to lose money.....it's different from siding with the idiots.
Nov 28th, 2012 - 12:46 am - Link - Report abuse 0Comment removed by the editor.
Nov 28th, 2012 - 01:46 am - Link - Report abuse 0Comment removed by the editor.
Nov 28th, 2012 - 02:10 am - Link - Report abuse 0@34 no rob the argie, its sad to see pathetic loser's making up false accusations just to try and save themselves from their own countries embarassment. Your post has been reported as trolling, goodbye!
Nov 28th, 2012 - 05:19 am - Link - Report abuse 0What a conundrum for argentina....on one side they are on their knees, the other side they are on all fours........lol. A self inflicted wound. How many times has argentina shot itself in both feet?
Nov 28th, 2012 - 01:24 pm - Link - Report abuse 0Having checked the extended definitions of 'Vulture Fund', 'Vulture Investor' and 'Hedge Fund'
Nov 28th, 2012 - 05:26 pm - Link - Report abuse 0I think that all those that accepted the 'restructuring' (reduction) of their repayments on their loans are no different to those that have held out for full reimbursment.
It would seem that *everybody* lending money to Argentina is a vulture in the eyes of the president.
I wonder if she has words to describe those stealing money from Argentina.
She might start with the phrase “I am a ....”
They are only vultures becasue they had the audacity to say “NO” to argentina. Can you imgaine the balls of a country that is in collapse and thinking they are doping a favor and calling the choots when it came to restructuring. financial deadbeats that lack honor, respect and self diginity........but not short on ego!
Nov 28th, 2012 - 06:16 pm - Link - Report abuse 0Commenting for this story is now closed.
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