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Argentina again requests stay ruling from Judge Griesa to pay restructured bondholders

Tuesday, July 22nd 2014 - 06:49 UTC
Full article 35 comments

Argentina asked U.S. judge Thomas Griesa on Monday to put on hold an order requiring it to pay bondholders who did not participate in debt restructurings following the country's 2002 default, while it seeks a “global resolution.” Read full article

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  • LEPRecon

    He should tell them NO.

    They've had years to sort this out and they just keep dragging their heels.

    PAY UP Argentina.

    Jul 22nd, 2014 - 07:29 am - Link - Report abuse 0
  • british bomber

    It does not matter what the American judge says. We have taken the trustees to court. They will pay up or else.

    Jul 22nd, 2014 - 11:22 am - Link - Report abuse 0
  • Holdout.from.Germany

    Comment removed by the editor.

    Jul 22nd, 2014 - 12:12 pm - Link - Report abuse 0
  • Troy Tempest

    2 Hepatia / British Bomber

    Forget it, sock puppet

    Jul 22nd, 2014 - 12:44 pm - Link - Report abuse 0
  • yankeeboy

    We shall see shortly how long the arm of the NY courts are..

    and maybe the 4th time asking for the stay will be the charm :)

    I kinda doubt it.

    Jul 22nd, 2014 - 12:59 pm - Link - Report abuse 0
  • Conqueror

    @2. Good for you. Argieland says it has discharged its responsibility when it deposited not enough money with the Bank of New York Mellon. The Bank of New York Mellon cannot disburse any monies without Judge Griesa's agreement. It can't even transfer monies to European subsidiaries. Are you expecting the European subsidiaries to pay out of their own money? Want to make a bet on how long your legal action will take? The first thing that will happen is that the European subsidiaries will point out that the trustee is the Bank of New York Mellon in New York. European courts will contact Judge Griesa. Judge Griesa will explain the relevant law. European courts will agree that the subsidiaries are not responsible. They cannot pay bondholders until New York dispenses funds. New York cannot dispense funds until argieland complies with Judge Griesa's order. My best guess is that judges are something of a “club” as well. Let's wait and see whether a European judge will try to overrule an American appeal judge. Incidentally, what's the “or else”? Love to hear about that. Amazing how many people argieland has screwed up, isn't it? When do you think granny might get some money? 2020?

    Jul 22nd, 2014 - 01:38 pm - Link - Report abuse 0
  • owl61

    @3
    I, too, don't understand why payment of a judgment or compromise thereof is an offer that would trigger RUFO. The total amount of claims of the NML/Elliot plaintiffs is about 1.4B. The total amount of the claims of the remaining holdouts not in the current case is about 13 B. Why not just pay a healthy % of that 1.4B voluntarily and after 12/31 pattern a settlement with the non-plaintiff holdouts for a similar % (minus attny fees) to get paid over time via bonds or otherwise. Arg can afford that.
    Assuming it settles the approx. 15 B in holdout claims for, say, 10B, the calculation of the overall haircut it unilaterally imposed upon its creditors (e.g. the 92% who took the swap plus the holdouts) still represents a serious write down of its debt.

    Jul 22nd, 2014 - 01:43 pm - Link - Report abuse 0
  • yankeeboy

    Griesa rejected the stay (for the 3rd and final time) and (again) ordered 24hr negotiations until a settlement is reached.
    And he blocked the payments in Europe.
    Bahahahaha

    I hope everyone in Buenos Aires likes sitting in the cold and dark!

    Jul 22nd, 2014 - 05:46 pm - Link - Report abuse 0
  • Briton

    exactly how much does Argentina owe....

    Jul 22nd, 2014 - 06:56 pm - Link - Report abuse 0
  • gordo1

    Pathetic pandering! You cannot and must try to manoeuvre the law to your advantage as you do in Argentina.

    Jul 22nd, 2014 - 07:10 pm - Link - Report abuse 0
  • Idlehands

    If you read the reviews from 5+ years ago it makes interesting reading - ie before the Argentine trolls went beserk.

    http://www.therobingroom.com/Judge.aspx?ID=1407

    http://www.therobingroom.com/Judge.aspx?ID=1407

    I'd say Argentina is screwed unless he falls off his perch in the next week.

    Jul 22nd, 2014 - 08:26 pm - Link - Report abuse 0
  • british bomber

    @8
    Then the court will seize the money from BNY. You Americans do not rule us.

    Jul 22nd, 2014 - 08:29 pm - Link - Report abuse 0
  • ChrisR

    Who in their wildest dreams thought Griesa would row back on his judgement, ably supported by SCOTUS (who agreed with him)?

    Clearly only TMBOA and their lawyers who want to keep being paid (strictly up front) for stating the bleeding obvious, knowing full well the retarded bitch will ignore them.

    They STILL haven’t understood that outside The Dark Country and especially in the US, etc., the justice system WORKS and they have LOST.

    Jul 22nd, 2014 - 08:33 pm - Link - Report abuse 0
  • Troy Tempest

    12 British Bomber - sock puppet of Hepatia

    “You Americans do not rule us.”

    Oh, that's funny - when you use your “Hepatia” identity, you tell us you are American, living in the USA.

    Clearly, you are NOT.

    Jul 22nd, 2014 - 08:42 pm - Link - Report abuse 0
  • owl61

    @12
    Of course, the US doesn't rule Arg. Unfortunately, Arg has no effective leadership, neither the US or its own elected government.
    I live part time in BA and I have Porteno family. I don't want to see them , much less me, sitting in the cold and dark, but the arrogance of the Arg now seems as pronounced as it is often portrayed to be.
    You lost Kicillof, CFK, Capitanich, Timmerman, et al. No phony invocation of patriotism can change the result nor can an attack on the US (a US that filed briefs supporting Arg's position ) justice system, no matter how vociferous and illogical such media attacks may be. Arg residents are going to pay the price for the mindboggling obstinacy of the Arg government.

    Jul 22nd, 2014 - 08:51 pm - Link - Report abuse 0
  • Captain Poppy

    Like us Americans, you Argentine's are living with your choices. Though I prefer to think our outlook is brighter.
    I don't want to see my extended family in the dark or cold as well. But the cancer is deep and malignant in Argentina.

    Jul 22nd, 2014 - 09:00 pm - Link - Report abuse 0
  • Alistair Nigel (EUian)

    在16

    No brighter outlook.

    Already world know children America today, first generation American person poorer than last per capita.

    Now, revelation find out, this children generation toay, first generation American person live less year than last.

    http://phys.org/news/2011-01-obesity-children-life-short.html

    So less year live, with less money, with more gun shoot kills.

    American life no good, get worse. Firrst time ever.

    Jul 22nd, 2014 - 10:03 pm - Link - Report abuse 0
  • yankeeboy

    I think the only thing that can save Argentina is complete collapse. In the past they've always have had someone to bail them out, UK, USA, IMF or a combination of them all.
    Now they have no one.
    Argentina's trade is negligible, they are no longer needed to keep SA stable and they have burned all their bridges.
    Even China will only loan them Yuan to buy Chinese goods.
    They need to completely crash so they can learn from their mistakes.
    Problem is, this may not be the collapse that does it.

    Jul 22nd, 2014 - 10:30 pm - Link - Report abuse 0
  • Captain Poppy

    I think #17 is a new la campora hatchling

    Jul 22nd, 2014 - 10:54 pm - Link - Report abuse 0
  • yankeeboy

    I think he's lashing out because he can't even afford a bus ticket for his 2 week winter vacation.
    Things are going to get really bad really fast.

    The Ks still don't understand how the courts work in the USA and that they lost.
    They may be able to pull this out at the last minute but I doubt it.
    I think they want to default so they can pay for fuel.
    They're going to really surprised when they can't buy any.

    Jul 22nd, 2014 - 10:57 pm - Link - Report abuse 0
  • Troy Tempest

    19, 20

    Nostrils can only deflect with 'whataboutery'

    Unfortunately, he has decided to honour “the Saviours of Argentina” with his ridiculous mimicry.
    I'm sure they monitor these sites, they are big on economic and industrial espionage, especially when they are about to spring a trap ... er I mean... ...close a deal with a new mark ... Uh .. prospect.

    I'm sure the very well educated Chinese will find Nostril's stereotype Pidgin Engrish very offensive.

    Things will get bad, and the Chinese will scoop up things at bargain prices, bargain wages, too.
    First it was Venezuela, now very dependent on China for investment money and market for their goods.
    Next, it will be Argentina - desperate to make a deal now they've spurned the USA and EU.
    Soon, maybe Brazil and Bolivia?

    What happens when they are all dependent on the same market, for the same goods??

    China is then in the catbird seat - “let's see some competitive pricing, boys...”
    Profits go down... Wages down... “ oh, but the interest rates on your loans? Nope sorry, still the same. Maybe you want to lock in all your oil and gas futures to us? We could work out a deal... ”

    Looks bad for Nostrils and Pablo Campora, and all the little Juvenil Kamporas.

    Too bad FI didn't go for the daily Aerolineas Argentina deal.
    Mount Pleasant Airport would be a good collecting spot for seized aircraft for handover to Singer.

    Jul 23rd, 2014 - 01:55 am - Link - Report abuse 0
  • Captain Poppy

    I think Bolivia or Ecuador with be number three. China realizes they are standing outside of the bankruptcy court asking if anyone needs credit as long as they get what they want......food, oil and mining.

    Brazil will not take long to fall in place. These elections will be interesting. Since Dilma took over the circus.......it's been nothing but decline and now they are projected for expand under 1% ......for a developing nation? She is running neck to neck at 34% with her opponent.

    They think China is their savior. It reminds me of an old episode of Twilight Zone......“To Serve Man”.

    Jul 23rd, 2014 - 09:30 am - Link - Report abuse 0
  • Troy Tempest

    Ha ha, I know the one.

    :-)

    Jul 23rd, 2014 - 12:44 pm - Link - Report abuse 0
  • Alistair Nigel (EUian)

    More I read, more I think, you all jealous Spanish American choose China, Russia, kick away west country. Also show reflection of how low standing become of USA, Europe in world, because of all bad thing and war they cause, that people trust China, RUssia more.

    Jul 23rd, 2014 - 05:16 pm - Link - Report abuse 0
  • Captain Poppy

    Read the recipe tobi

    Jul 23rd, 2014 - 05:38 pm - Link - Report abuse 0
  • Alistair Nigel (EUian)

    Why you never answer question of why Europe, USA not so like in world? Why you no admit Europe, USA invade other no right? Sanction no right? Arrogant no right?

    Why always fault of other, never fault Europe, USA?

    Jul 23rd, 2014 - 05:42 pm - Link - Report abuse 0
  • Briton

    24 Alistair Nigel (EUian
    Not being pivotal to your lingo, and thus no offence intended but please could you anser the following bits of your statement for me.

    1, please can you define [(EUian ]
    2, Spanish American choose China
    3, Russia, kick away west country.//
    4. Why Europe, USA not so like in world? Why you no admit Europe, USA invades other no right? Sanction no right? Arrogant no right?

    Why always fault of other, never fault Europe, USA?

    Thank you.
    .

    Jul 23rd, 2014 - 06:55 pm - Link - Report abuse 0
  • Troy Tempest

    Gents,

    No point bothering with him.

    That's it for me.

    Jul 23rd, 2014 - 07:09 pm - Link - Report abuse 0
  • Captain Poppy

    #26 tits up or down today tobi?

    Jul 23rd, 2014 - 07:26 pm - Link - Report abuse 0
  • ilsen

    @25, 27, 28, 29 et al.

    I believe there's some potentially serious mental health issues occurring with the poster @26.

    I am not engaging as I feel it is best left to medical professionals.

    Jul 23rd, 2014 - 09:05 pm - Link - Report abuse 0
  • Captain Poppy

    Smart choice. That should go for whatever name tobi decides to use. I use to think he was pathetically sad but now I agree and think he has a serious mental illness.

    Jul 23rd, 2014 - 11:19 pm - Link - Report abuse 0
  • Briton

    True..

    Jul 24th, 2014 - 06:34 pm - Link - Report abuse 0
  • ilsen

    Good-bye Tobi. It was fun for a while, but now you need to get some help.

    Hope it all works out ok for you.

    Jul 24th, 2014 - 11:28 pm - Link - Report abuse 0
  • Troy Tempest

    Yep, total mental collapse - I don't even read his stuff now.

    He needs more than attention - he needs psychiatric attention

    Jul 25th, 2014 - 12:32 am - Link - Report abuse 0
  • ilsen

    Another of casualty of Cristina's. The streets must littered with them.

    Hey, cool name for a band!

    I want a t-shirt that says
    “I ♥Cristina's Casualties”

    Bwahahahahahah!
    :O

    Jul 25th, 2014 - 08:20 am - Link - Report abuse 0

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