Hedge funds insist in New York court Argentina must pay defaulted bonds

Monday, January 28th 2013 - 06:02 UTC

Full article 6 comments

Hedge fund investors who refused to join two sovereign debt restructurings by Argentina urged a US court in New York to force the country to pay them. Read full article

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Ozgood
The hedge funds often do not present a shining example of ethical behaviour. In fact the derivatives traders and writers have played no small part in woes afflicting the global economy today.

Think on Nick Leeson - Barings Bank
Juan Pablo Davila - CODELCO
Procter & Gamble
Orange County etc

Some estimate the value of derivatives traded at US$ 700 trillion if that amount has any meaning
Jan 28th, 2013 - 11:56 am - Link - Report abuse 0
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LEPRecon
It's time to pay the piper Argentina.

It's not about the millionaires like Paul Singer, it's about the other holdouts, the Italian people who invested their pension money. It's about the little people.

For once in your existance Argentina, show the world you have some honour, and pay what you so readily borrowed.

If not, then Argentina will remain an international pariah, and will rapidly be destroyed by your own incompetence and corruption.

But, of course, it won't be Argentina's fault, will it? It's always someone else's fault, because none of you have the courage to hold up your hands an say, “Yup we fecked up, and now we need to do something positive to pay off our debts, and revive Argentina's almost extinct reputation on the international stage.”

Of course, pigs will fly before CFK and her ilk ever admit that they are wrong.
Jan 28th, 2013 - 11:59 am - Link - Report abuse 0
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Vulcanbomber
Although Hedge funds are not the best example, they are however, the holders of a debt that is being unfairly returned.

Argentina claims it is so successful, so why not pay its debts. CFK can afford to use her countries money to charter a private jet, rather than use the state airline, or even her private state jet (tango 1).

The problem is corruption. In order to pay these funds, she will have to admit she is in the wrong and has lied at so many levels and what Argentinas real financial position is, which will be political suicicde, this is also the reason she keeps the falklands argument, as it deflects from the real issues
Jan 28th, 2013 - 12:02 pm - Link - Report abuse 0
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yankeeboy
It is expected that Argentina will use the same argument that lost them the case in the first place. They are just trying to drag this out for as long as possible. Griesa knows this and has stopped playing along long ago.
I can't see this being taken up by SCOTUS either so hopefully this will be their final performance.
Jan 28th, 2013 - 12:14 pm - Link - Report abuse 0
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Shed-time
If Wonga and similar well marketed pay-day 'loan sharks' can sell off bad-debts to brutal-and-fisty debt-collection agencies, then why can't the Argentine bond-holders? If the people selling the bonds were of sound mind, then the issue here is that Argentina basically wants to ban debt-collection agencies but wants to keep borrowing. Thereby allowing this morally hazardous behaviour to continue forever and completely unchecked. What makes it even more weird is that they claim to have the money to pay the original debt.

The law should be consistent between legal entities, people or nations. They should all get beaten with the same sh!tty stick.
Jan 28th, 2013 - 10:47 pm - Link - Report abuse 0
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DanyBerger
VF will never get pay. full stop

next please?
Jan 30th, 2013 - 11:13 am - Link - Report abuse 0
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