Argentina appeals New York Judge Griesa's order regarding banks' disclosures

Saturday, October 26th 2013 - 15:54 UTC

Full article 14 comments

The Argentine government yesterday appealed an order by US Judge Thomas Griesa who asked some private banks to turn over information about Argentina’s assets abroad. The case had been started by hedge fund Elliott Management Corp’s NML Capital Ltd which is demanding in court full 100% payment of Argentine sovereign bonds face value. Read full article

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yankeeboy
I think the stay will be lifted shortly.
Rut Ro
Oct 26th, 2013 - 07:31 pm - Link - Report abuse 0
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Conqueror
Dear, dear, dear. Argieland is getting more desperate by the day. The clear objective is to tie the matter up in so many appeals and reviews that years will pass. A question is whether these banks, U.S., British, Swiss, French, German, will also ignore the court? Probably not a good idea. And argieland is finding that it can't claim the “sovereign immunity” it gave up when it issued the bonds. I suppose we will have to accept that the argies will fight all the way. I do hope the lawyers are billing them on a daily basis. Otherwise they will join the long list of people to whom the argies owe money.
Oct 27th, 2013 - 09:22 am - Link - Report abuse 0
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ChrisR
If the lawyers have any sense at all they will be using an escrow service and when the money runs out their services stop until if and when the escrow is in credit.
Oct 27th, 2013 - 11:18 am - Link - Report abuse 0
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St.John
@ 2 Conqueror

the objective is to stay the matter until la presidenta is kicked out in 2015.
Oct 27th, 2013 - 12:17 pm - Link - Report abuse 0
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yankeeboy
4. These shenanigans will conclude shortly. The NYC courts know Arg is deliberately dragging this out and they are sick of them.
It won't be long before Arg pays.
Oct 27th, 2013 - 01:28 pm - Link - Report abuse 0
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ElaineB
@4 I notice that the Pope has confirmed he will not visit Argentina before 2016. He doesn't want to visit when there is any chance of CFK being around.
Oct 27th, 2013 - 01:56 pm - Link - Report abuse 0
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Brasileiro
The music from my childhood.

https://www.youtube.com/watch?v=0x2BY8vJZ7U
Oct 27th, 2013 - 11:57 pm - Link - Report abuse 0
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british bomber
@5 but the rgs will default and the bonds will not get paid. Now that rg is on sequester and after the debt ceiling America will do nothing. We need sanctions like Iran or invasion like Iraq.
Oct 28th, 2013 - 02:19 am - Link - Report abuse 0
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DanyBerger
@british bomber

Are you planning to commit suicide or what?
Oct 28th, 2013 - 07:13 am - Link - Report abuse 0
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Rufus
@2 Conks

I can't imagine that the lawyers would be doing anything that they haven't got a copper-bottomed guarantee getting paid for(i.e. escrow or holding money in their client account for). They ain't stupid.
Oct 28th, 2013 - 09:44 am - Link - Report abuse 0
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Conqueror
@9 Why do you ask a silly question like that? Let's just take a look at what's possible. The argie air force has a frontline combat strength of 41 aircraft. The RAF has 232. Incidentally, the argie air force has exactly one inflight tanker. The RAF has 14. So yes, the aircraft can get there. The argie navy has 6 corvettes. Vessels, including submarines, incapable of putting to sea are excluded. The RN has 6 destroyers, 13 frigates and at least 7 fleet submarines. The Vanguard class ballistic missile submarines are excluded. The argie army has 348 what it calls “main battle tanks”. The British Army has 407 real main battle tanks. Also 328 light tanks and 489 infantry fighting vehicles. The argie army has 896 armoured vehicles. The British Army has 1,383. The argie army has 771 artillery pieces and 128 self-propelled artillery. The British Army has 433 artillery pieces and 89 self-propelled. The argie army has 46 helicopters. The British Army has 151.

Now, you were saying? There's also a fair bit of kit I haven't mentioned. Argie forces don't seem to have any thing like the Royal Navy's amphibious transport docks, amphibious assault ship or helicopter carrier. How do you fancy HMS Albion, Bulwark, Ocean and Illustrious launching air assaults on airfields using Apache, Lynx and Merlin helicopters before flying troops and equipment in with Chinooks whilst more troops and heavier equipment are landed by HMS Ocean? Why the airfields? So that all the RAF combat aircraft can land, of course. But I do “understand” your reference to suicide. It's what any argie forces would be committing. And if you don't believe, think on this. British forces of 1982 didn't have the capabilities that they do today. British forces in 1982 were outnumbered. Who won?
Oct 28th, 2013 - 10:04 am - Link - Report abuse 0
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Falkland Islands
Just pay, then Argie land can sink quietly.
Oct 28th, 2013 - 11:12 pm - Link - Report abuse 0
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british bomber
But its no good us putting sanctions on the intended rgs. It has to be the Americans. But they want to do the same thing as the rgs are going to do. And Singer is going to end up with a few hundred million and nobody else will get anything.
Oct 29th, 2013 - 03:59 am - Link - Report abuse 0
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Ayayay
@6 Elaine good observation.
Oct 30th, 2013 - 10:56 pm - Link - Report abuse 0
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