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US Supreme Court decision of Argentina/hedge funds case delayed until Monday

Friday, June 13th 2014 - 08:26 UTC
Full article 23 comments

The US Supreme Court will reveal its decision on Argentina's request regarding litigation with the hedge funds case on Monday at 10.30am, after deliberating on Friday behind closed doors. A final outcome could arrive as late as next year though, if the judges decide to ask the US government for an opinion on the case before ruling. Read full article

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  • Idlehands

    It seems this will be decided on the basis of politics rather than law whichever way it goes.

    Jun 13th, 2014 - 09:55 am - Link - Report abuse 0
  • Conqueror

    So, will SCOTUS support the crooks or the good guys? It strikes me that there's a “split”. Isn't Kicillof's comment instructive? “lawyers and bankers that want countries to bankrupt by buying a worthless bond” and then demand to be paid off with “1,600% of profit”. Isn't that an admission that the bond was always “worthless”? But isn't argieland paying the “non-holdouts”? So it's not worthless, is it?

    IF argieland had dealt honestly with the bondholders in the first place, it wouldn't have a problem. It might not have been able to sling money around so freely, but that's what happens when you've borrowed. In my opinion, SCOTUS should call argieland's bluff. And it is a bluff. If SCOTUS declines to take the case, it goes back to Judge Griesa. And the Paris Club, IMF, World Bank will have to think again. What fun! Maybe there won't be any export credits after all? Maybe there won't be any loans?

    Jun 13th, 2014 - 09:55 am - Link - Report abuse 0
  • yankeeboy

    No matter how SCOTUS rules Argentina will have to come to an agreement with the holdouts before they can get any Int'l loans.
    Soy is crashing and Oil is rising
    Just at the right time to make this a happy winter in BA
    BCRA is robbing Peter to Pay Paul and they're about to run out of their float.
    Gas/OIL is U$ COD and with less than U$6B in cash on hand BA might be really cold with blackouts shortly
    Brr

    Jun 13th, 2014 - 12:12 pm - Link - Report abuse 0
  • Vestige

    Probably another years wait at the very least for the financially foolhardy holdouts.
    And who knows how long after that.

    Jun 13th, 2014 - 04:55 pm - Link - Report abuse 0
  • golfcronie

    @4
    Kicking the can down the road will not help the next Government of Arjuntina, they will eventually have to pay.

    Jun 13th, 2014 - 09:40 pm - Link - Report abuse 0
  • tRoll_with_the_Punches

    @5

    Argentina is never paying. Nothing to pay. It's our money because we defaulted.

    Jun 13th, 2014 - 09:56 pm - Link - Report abuse 0
  • Holdout.from.Germany

    Argentina’s nightmare default, this since 2002 ongoing HORROR must finally have an end!!!We, the holdouts, have been suffering for more than a decade!!
    Since 2002, Argentina has not paid a cent to the holdouts!
    Most of the Holdouts are “before default buyer”, who have bought their bonds at an average of 100% or even higher. That is why we cannot accept similar offers as they were in 2005 and 2010.
    It would be a historic event, and the whole world would be very pleased, if the government of Cristina Kirchner finished this since 2002 ongoing NIGHTMARE-DEFAULT!

    In the “Pari Passu” issue the Holdouts are 100% right! There is nothing to discuss. In the bond contracts “Pari Passu” is clear defined. Also, in the bond contracts Argentina has explicitly waived its sovereign immunity.
    It would be helpful, if the US Supreme Court rejected ASAP Argentina’s unjustified appeal. Then, Argentina and the holdouts could immediately negotiate a solution.
    The best scenario for the Holdouts (and finally also for Argentina) would be, if the court rejected the case. If this happens, the government of Cristina Kirchner and the Holdouts would be forced to sit down and negotiate immediately an acceptable solution.
    Probably under the review of Judge Griesa, who also invited Argentina and the Holdouts to negotiate a solution.

    Jun 14th, 2014 - 01:43 am - Link - Report abuse 0
  • british bomber

    @7
    If the decision goes against Argentina then they will implement 'pari pasau' and pay zero dollars on all bonds. So how will the decision force Argentina to negotiate?

    Jun 14th, 2014 - 06:38 am - Link - Report abuse 0
  • MagnusMaster

    @5 It'll give us time to get the money though.

    Jun 14th, 2014 - 03:47 pm - Link - Report abuse 0
  • Vestige

    7 - my heart aches for you. Whatever shall you do if you dont get your 1600% return on investment.

    You copy and paste this same script in various corners of the internet, its like you're employed by the scummy cayman islands nml vulture fund.

    Jun 14th, 2014 - 05:06 pm - Link - Report abuse 0
  • ilsen

    Time for Argentina to pay up. No more loans other wise

    Jun 14th, 2014 - 09:03 pm - Link - Report abuse 0
  • british bomber

    @11
    You're out of touch. There is a European Commission vice president in BA right now offering credits.

    Jun 14th, 2014 - 10:59 pm - Link - Report abuse 0
  • ilsen

    @12
    At what rates?
    Offering? Maybe. No deals yet.
    probably waiting on the outcome of SCOTUS.
    Your screen name is a misnomer and you are the one out of touch.

    Jun 15th, 2014 - 12:41 am - Link - Report abuse 0
  • Troy Tempest

    :-)

    Jun 15th, 2014 - 03:38 am - Link - Report abuse 0
  • british bomber

    @13
    I am one of the 93%. I reject theft of Wall St from Main St.

    Jun 15th, 2014 - 04:20 am - Link - Report abuse 0
  • Troy Tempest

    15 BB

    What does that mean? - please explain- your statement is too short and can be interpreted different ways.

    Jun 15th, 2014 - 04:25 am - Link - Report abuse 0
  • ilsen

    @15
    Well, that's lovely for you. Well done you.

    Not sure why you are telling me though. Or why you think I am interested in how you wish to label your self. (93% of what? Fish? A nonsensical statement)

    Jun 15th, 2014 - 08:21 am - Link - Report abuse 0
  • Conqueror

    @15 If you're one of the 93%, I understand your position. You're a stupid idiot who caved under criminal duress and now wants everyone else to suffer. A short description of you would be “spineless coward”. Therefore you are in no way “british”. Change your “name” to “suicide bombless”. If you were British, you would be shame personified.

    Jun 15th, 2014 - 01:18 pm - Link - Report abuse 0
  • toxictaxitrader2

    Argentina loses ,holdouts boozes

    Jun 16th, 2014 - 07:23 pm - Link - Report abuse 0
  • Joe Bloggs

    19 LOL.

    4 Vestige
    Time flies when you're having fun huh?
    Oops! PMSL!!

    Can't wait to see who TMBOA and Kiss My Arse blame for this. The UK?

    Jun 16th, 2014 - 07:43 pm - Link - Report abuse 0
  • ilsen

    Bhaaahahaha!

    Jun 16th, 2014 - 09:16 pm - Link - Report abuse 0
  • Troy Tempest

    21
    http://youtu.be/Qi68KwJg5K4

    Bah - ha ha ha ha ha ha ha ... !!!!

    Jun 16th, 2014 - 10:15 pm - Link - Report abuse 0
  • ilsen

    @19 lol!

    @22 perfect! I Salute You Sir!

    Very busy with work/business at the moment but will be read (lurking) when I can.
    Cheers!

    Jun 17th, 2014 - 09:26 pm - Link - Report abuse 0

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