MercoPress. South Atlantic News Agency
US court rules in favour of Argentina: denies security deposit requested by hedge funds
US appeals court refused to order Argentina to post a security deposit of at least 250 million dollars while it seeks to overturn a lower court ruling that orders it to pay holdout investors 1.33 billion. Read full article
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Disclaimer & comment rulesBefore the Agrie come in here cry VICTORY!!!!!!!!!
Dec 05th, 2012 - 12:39 am - Link - Report abuse 0Its not a victory for argentina at all. The legal status of the court claim hasn't changed and argentina could very much, and is likely too, loose in febuary!
I guess there are judges that can read in USA. You can fool some people some of the time but you can't fool everyone all of the time.
Dec 05th, 2012 - 01:10 am - Link - Report abuse 0http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
The U.S. Courts are unfair! J/K :)
Dec 05th, 2012 - 01:35 am - Link - Report abuse 0@1 teabag
Dec 05th, 2012 - 03:33 am - Link - Report abuse 0The next Victory is to recover our Malvinas Islands that were stolen by pirates!!!!
4
Dec 05th, 2012 - 05:19 am - Link - Report abuse 0Don't kid yourself.
@4 port stanley, the islands are unimportant. what's important is the theft and corruption that Cristina is trying to hide!
Dec 05th, 2012 - 06:00 am - Link - Report abuse 0Comment removed by the editor.
Dec 05th, 2012 - 07:43 am - Link - Report abuse 0@4
Dec 05th, 2012 - 08:44 am - Link - Report abuse 0Your next victory? What was your previous victory?
Phew! Humiliation #487 avoided, count still at 486.
Dec 05th, 2012 - 09:47 am - Link - Report abuse 0Victory???
Dec 05th, 2012 - 10:02 am - Link - Report abuse 0so argentina has won the “Holdout” case? No!
IMF have found INDEC figures true? No!
Libertad is back in an Argentine port? No!
WTO has dropped all cases against Argentina? No!
Have companies dealing with FOGL been scared away? No!
Tha Falklanders have voted to become Argentine? No!
as you see “Real victory” is as elusive as Argentinas missing millions, argentina has nothing to shout about so any insignificant ruling in their favor regardless of how ineffectual to the case, must be applauded as not much else is going for them.
being allowed to retreat in a battle does not mean you have won the battle,let alone the war! and Argentina has many wars on its horizon! :))
i would wish them good luck but I wont.
'US court rules in favour of Argentina'
Dec 05th, 2012 - 10:36 am - Link - Report abuse 0'US court says ”no need for a security deposit pending the outcome of the appeal'
Is this a 'victory'? No, just a holding position whilst the appeal can be heard.
The $1.33billion is still on the table.
@4 And just who are you exactly... was i talking to you in particular? No! So less of the name calling you little shit!
Dec 05th, 2012 - 10:41 am - Link - Report abuse 0Oh yeah; If you think your next victory (i say “next” lightly as you havent had a victory for over 100 years) will be taking back the falkland islands. Well go ahead and try, your rowing boat would sink before you even got past the 6ft depth mark after setting off, either that or your oars would break in two. After all we all know how poorly maintained your navy is. Now don't forget to bring your paint balls, after all thats the only ammo your military has. Hell you muppets couldn't even defend an attack from chile or any of your other neighbours, yet are deluded enough to think you can take on the UK, despite the fact your military is a mere fraction of what it was in 1982, and ours its far more advanced than it was in 1982. Hell we'd only need 500 men max to take you idiots on!
This type of ruling is what keeps me believing in the U.S. justice system.
Dec 05th, 2012 - 10:52 am - Link - Report abuse 0Trolls don't know the difference between a skirmish, firefight, battle and a war. Argentina cannot win this case because the free world would be sending a very bad message to every turdball nation that feels it wants to drop it's debt. There are consequences to defaulting and that message needs to be sent to every nation that borrows money.
Dec 05th, 2012 - 11:18 am - Link - Report abuse 0The day of reckoning cometh!
Dec 05th, 2012 - 11:26 am - Link - Report abuse 0I can't believe Argentina has managed to get away with this for so long, it's like watching a car crash in slo mo...
Dec 05th, 2012 - 01:03 pm - Link - Report abuse 0I am very dissappointed in my judiciacl system. However this is just one step and in twelve step process and the end result is hardly over yet. However I will be honest in that I do not believe in the concept of what these funds do, but as long as it is legal.....I would support them until it otherwise changes. Argentina needs to be accountable for there actions of their default. And, when a country choices to default, the next step with the creditors needs to be bi-lateral actions not uni-lateral, as if the defaultor is in charge.
Dec 05th, 2012 - 01:10 pm - Link - Report abuse 0The more hope you give them,
Dec 05th, 2012 - 01:14 pm - Link - Report abuse 0The more desperate they become,
The more time you give them,
The less chance you have of getting your money,
The more they resist paying,
The more other broke nations will take note,
And if in the end, they are allowed to get away with it,
The rest will follow suit,
The money lenders will lose ,
And justice will never be done,
Either force them to pay,
Or let em go.
.
17. This could all hav ebeen avoided if Nestor didn't unilaterally shove a 67% write off down every bondholder's throat.
Dec 05th, 2012 - 01:16 pm - Link - Report abuse 0If they would have done the right and honorable thing by going through a managed default they would have been on their road to recovery rather than on the road to another default.
They are very stupid arrogant people and get what they deserve.
@4 It's a good place for you to die. But, under new policies, argie corpses cannot be buried in the Falklands. Contamination. They can only be taken 200 miles offshore and shovelled overboard! Weighted with rocks.
Dec 05th, 2012 - 01:17 pm - Link - Report abuse 0@13 Wonder how much the argies paid?
“If they would have done the right and honorable thing by going through a managed default they would have been on their road to recovery rather than on the road to another default.”
Dec 05th, 2012 - 01:32 pm - Link - Report abuse 0There is no such thing as a managed default. But I guess fibbing is free.
Either wat the yanks are going to catch up with the Argies.
Dec 05th, 2012 - 01:48 pm - Link - Report abuse 0www.atfa.org/
@22
Dec 05th, 2012 - 02:34 pm - Link - Report abuse 0They are a powerless entity here. They have no leverage on Argentina, no loans to cut off, no military aid, no trade deals. All they could do is embargo the country but no one will follow them there, and without the rest of the world they have no power.
The only alternative would be to blockade the country, all 3000km of coastline, but alas, they don't have the military power to do that either anymore.
They are paper tiger who can't even sign a treaty to promote the building of facilities for the handicapped around the world. Their era of leadership is over.
They will economically collapse soon, they have no industries that will lead them to growth, their last 20 years of “gdp growth” were an insane internet bubble where 99% of the businessess failed (by far the all time record of post-bubble legacy), and a real-estate bubble with no fundamentation beneath it.
Fake growth, which is why living standards in the USA have droped 23% since 1974, and salaries are down 10k during the Bush-Obama era combined.
Yup, there' done.
The problem facing the Appeals Court is that Argentina, for all CFK's boasting about having reserves of US$ 45 billion, has no reserves at all, she cannot pay the US$ 250 million into an escrow account even. Thus the dilemma is force a default now so that no one gets paid or give Argentina three months grace to see if she can raise enough US$ to pay off her immediate debts!!!!!
Dec 05th, 2012 - 02:40 pm - Link - Report abuse 0I totally agree Yankee, that's why I said bi-laterally which is something they did not do. They always seem to think that they are in the cat birds seat.
Dec 05th, 2012 - 03:17 pm - Link - Report abuse 0I agree Simon. In the end I do not seeing them winning this appeal. Any stay of execution will need to come from SCOTUS after this bout.
“Yup, there' done.”
Dec 05th, 2012 - 03:30 pm - Link - Report abuse 0Today in Bongolesia....
/random platitude
Comment removed by the editor.
Dec 05th, 2012 - 03:36 pm - Link - Report abuse 0playing with google translate again to buld your self esteem poor little lost sheep
Dec 05th, 2012 - 06:49 pm - Link - Report abuse 0Somebody here appears to be almost set for an eluctation of jaundice and invidious animus.
Dec 05th, 2012 - 06:55 pm - Link - Report abuse 0@27
Dec 05th, 2012 - 08:01 pm - Link - Report abuse 0Oh dear. I see you're still making schoolboy mistakes in German. Can you see it yourself, or would you like me to tell you?
@27 Those of us who don't speak spanish, because we're not poor, understand that this is just drawing out the inevitable. Logic suggests that Argentina will be told to pay the hold-outs with a small fraction of the foreign reserves they are hanging under everyone's noses. Then rather than admit they are a paper tiger and those foreign reserves have already been spirited away to offshore 'personal wealth funds', they will simply refuse to bow to the courts.
Dec 05th, 2012 - 08:37 pm - Link - Report abuse 0End of the Obvious.
#29 titti boi, I really wish you were nearby to slap you on the back. You by far are the funniest of you you little trolls. There was this little kids toys back in the 70's called weebles and you trolls remind me of them. “weebles wobble but they don't fall down”.
Dec 05th, 2012 - 09:21 pm - Link - Report abuse 0You really need to stop overcompensating for you lack of formal education tobi
#31 They will be told to pay the holdouts for sure. Think of the message it will send if they do not enforce payments? They are telling every debt ridden, overburden nation that is is ok to not pay. They effects of that message would be disasterous. Argentina was given every chance to play nice in the sandbox, but they insisted on kicking sand in everyone's face. Now it's time for the world to say enough. SA is being run by terrorists of the 70's and the people will be the ultimate payers for there actions.
@27 Amazing what google translate can do isn't! Shame for you this forum is english only and as Anbar was speaking in english, i fail to see why you need to respond with the same statements in french, spanish and german!
Dec 05th, 2012 - 10:15 pm - Link - Report abuse 0Hans Niesund is has a jealousy streak I wasn't expecting. You can point out all the mistakes you want, the fact you didn't on the very first chance you had speaks for itself about the likelyhood of your statement.
Dec 06th, 2012 - 12:24 am - Link - Report abuse 0Oh and look who's back, the now very rotten, spoiled greke yoghurt.
@35
Dec 06th, 2012 - 06:48 pm - Link - Report abuse 0I'm sure you'll agree it's about time Argentina got its own German grammar. That way you won't have to put up any more with all those appalling foreigners telling you how to speak it.
@35
Dec 06th, 2012 - 06:54 pm - Link - Report abuse 0Ok I want to apologize to you as a man. I think you were correct. While the post was removed, I think I said “nicht eine” when it's obviously “keine Floskel”.
So I man up and say you were correct even though you did not say specifically it was that it must have been. Trying to write in four languages does mix things up sometimes, but still it is no excuse. It will not happen again.
Good news, and strangely far less commentary than when the rulings were going badly...
Dec 14th, 2012 - 09:08 pm - Link - Report abuse 0#13 =)
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