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US hedge funds reject Argentina’s offer to settle defaulted sovereign bonds suit

Saturday, April 20th 2013 - 08:39 UTC
Full article 31 comments

Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking. Read full article

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  • yankeeboy

    Well there is a surprise!
    Not!

    Rut ro

    The only U$45 B CFK has is in her own personal account
    do you think she'll use that?
    yeah sure

    Apr 20th, 2013 - 10:37 am - Link - Report abuse 0
  • mastershakejb

    Cristina's gonna need another facelift surgery to pick her spirits back up after this

    Apr 20th, 2013 - 11:43 am - Link - Report abuse 0
  • Porto Margaret

    Keep the heat on the KFC clique. Sweat them until they pay up.

    It keeps this shabby regimes underhand financial dealings in the spot light as a continual warning to all other international institutions.

    Drag it out Pinocho, your reputation is further debased.

    Apr 20th, 2013 - 11:58 am - Link - Report abuse 0
  • CaptainSilver

    Aaaa mageddon!!!!

    Apr 20th, 2013 - 01:18 pm - Link - Report abuse 0
  • Conqueror

    Doesn't JT3 want “isolation”? Then let argieland have true isolation. Make it impossible for argieland to buy or sell ANYTHING until it pays its debts. Apply the same sanctions to any other country found trading with it. WHEN its debts have been paid, we can address the situation of the Exchange Bondholder Group. Probably by demanding that argieland pays it the money that was stolen by argieland's “restructuring”. 10% of the stolen amount, plus interest, every year for the next 8-10 years?

    Apr 20th, 2013 - 02:03 pm - Link - Report abuse 0
  • Gordo1

    Comment removed by the editor.

    Apr 20th, 2013 - 02:04 pm - Link - Report abuse 0
  • cornelius

    Well, well the day of judgment is coming up on you with al the righteousness and vengeance of capitalism which you like or otherwise you wouldn’t take the money the day of reckoning is here to the most legally demanded country on the history of modern finance espending 250.000.000 million a year in legal fees to protect a liability of 500.000.000.000 billion dollar.
    Argentina you are a sovereign thief.

    Apr 20th, 2013 - 04:53 pm - Link - Report abuse 0
  • Chicureo

    Actually #7 I truly doubt the legal expenses are so high, but in any case, I suspect CFK will somehow get away with not paying all that is owed. Sort of debt forgiveness. The problem is of course that they will have a devil of a time securing new lines of credit.

    Apr 20th, 2013 - 06:57 pm - Link - Report abuse 0
  • briton

    send em to prison
    stright to prison,

    and do not collect $200 when ya pass go.
    ,,,,,,
    still,
    sooner or later, punnishment will be served ? cold..

    Apr 20th, 2013 - 07:19 pm - Link - Report abuse 0
  • GeoffWard2

    Well, why would they accept 25% returned on the money they loaned!?
    The country has the money in its reserves, it just refuses to part with it.
    IMO they are absolutely right to go to the wire on this one.

    Apr 20th, 2013 - 08:15 pm - Link - Report abuse 0
  • Conqueror

    Comment removed by the editor.

    Apr 20th, 2013 - 09:02 pm - Link - Report abuse 0
  • cornelius

    actually #8 I should correct that figure, that figure could potentially be that amount and represent s the 11 years of legal fees plus adding the future if they pursue until the end which they will lose of course and their total liabilities could get 1/2 trillion dollars I read that in the wall street journal a year ago. (I wonder myself if those figure are correct or they made a mistake)

    Apr 20th, 2013 - 10:36 pm - Link - Report abuse 0
  • stick up your junta

    The impunity of money-making Kirchnerites
    http://www.buenosairesherald.com/article/128972/where-there’s-muck-there’s-brass

    Apr 20th, 2013 - 10:49 pm - Link - Report abuse 0
  • cornelius

    Great article #13 in another words Argentina is being isabelaite remeber isabel Peron?

    Apr 21st, 2013 - 12:48 am - Link - Report abuse 0
  • Britworker

    The default edgeth closer. Then the riots, then coup, then 10 years of obscurity, then we want our islands back.
    The Argentine circle if life.

    Apr 21st, 2013 - 10:56 am - Link - Report abuse 0
  • wangito

    CFK: Read your bond's conditions carefully...
    “Pari Passu” (or, equale terms for all) is only applicable in a case of Bankruptcy and could be applied by the power of the receivership, Or upon mutual agreement of ALL involved.
    Are you declaring bankruptcy? or are you becoming the head of the new International “Persian Market?”...But if you do you are bound to fail as you do as a president! A true street dealer will never srart at 25%, of face value, start at 5%. You can always raise your offer, but you can never lower it...
    I do cry for you Argentina.

    Apr 21st, 2013 - 03:47 pm - Link - Report abuse 0
  • briton

    ah, but but but-
    can she read lol.

    Apr 21st, 2013 - 07:41 pm - Link - Report abuse 0
  • cornelius

    Will Argentina be declare a failed state like Somalia who just got back international credit?

    Apr 21st, 2013 - 10:24 pm - Link - Report abuse 0
  • ManRod

    pay back the money you spent, FULL STOP!

    Don't you see this will hunt you on forever and ever and the consecuences of not keeping your word will doom you much more?

    Apr 21st, 2013 - 10:37 pm - Link - Report abuse 0
  • DanyBerger

    Oh! poor vulture funds still not a penny for their shitty scam.

    Good Argentina has to refuse to pay to these crooks...

    Apr 22nd, 2013 - 09:41 am - Link - Report abuse 0
  • Optimus_Princeps

    @20 If Cristina can steal from the elderly to pay for her plastic surgery, she can honor her debts. Also, if she wanted to deal with one part of the issue without paying a nickle, she would lock up Menem and his scum bags, but instead she's protecting him taking a few pages from his playbook.

    Apr 22nd, 2013 - 12:05 pm - Link - Report abuse 0
  • Chicureo

    In the end, crime sometimes DOES PAY, although I think that history will not be kind to CFK or her party. As far as the economy, there will be continued inflation carefully obscured in official statistics which will cause increased sanctions from the IMF, but so what? Argentina's credit and reputation cannot really get worse and she's fighting for her domestic image, not international. (Ok, She's also in a big PR campaign with a few Latin nations as well, but she's hanging on... By a thread, but she's playing a risky game well. ) Am I defending her? No, of course not. In the end, I prefer Chile's course and the standing my nation has, but as Think once pointed out... Chile did basiclly steal the copper companies and after a lot of resulting pain, got away with it...

    Apr 22nd, 2013 - 01:42 pm - Link - Report abuse 0
  • yankeeboy

    Argentina will be brought to heel, whether it is this gov't or the next. It all depends on how much pain the people of Argentina are willing to stand.
    The positive trade balance has shifted
    The import fuel bill is climbing faster than the exports
    Very soon BCRA will not have the U$ to pay the Int'l debt
    Very soon Hyperinflation will begin

    So at some point the pain the Rgs take will be too much
    The cracks are starting to show now
    A24

    Apr 22nd, 2013 - 01:50 pm - Link - Report abuse 0
  • briton

    The Argentine goverment are responsable for all debts,

    and therefore should pay up..

    Apr 22nd, 2013 - 05:58 pm - Link - Report abuse 0
  • John III (Pope)

    @19
    Does your indignation apply only to Argentina or does it apply generally? If the later are you demanding that the UK stops welching and also repay its debts?

    Apr 23rd, 2013 - 07:35 am - Link - Report abuse 0
  • Brazilian

    LOL at US debt higher than it's GDP.

    Apr 23rd, 2013 - 02:17 pm - Link - Report abuse 0
  • briton

    the UK stops welching and also repay its debts?

    would one care to name this debt ?

    Apr 23rd, 2013 - 06:52 pm - Link - Report abuse 0
  • Chicureo

    #27
    Well, they did cause a lot of damage to the armed forces of a particular country in 1982 and never paid for it...
    ;)

    Apr 23rd, 2013 - 10:36 pm - Link - Report abuse 0
  • John III (Pope)

    @27
    There a a number of implicit and explicit debts the UK needs to pay. Start with the default of the 1930s.

    Apr 24th, 2013 - 07:22 am - Link - Report abuse 0
  • toxictaxitrader2

    @29
    A! explain?

    Apr 24th, 2013 - 08:31 am - Link - Report abuse 0
  • briton

    28-29
    name em.

    Apr 24th, 2013 - 06:32 pm - Link - Report abuse 0

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