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Argentina/holdouts will meet again on Friday; “issues remain unresolved”

Friday, July 25th 2014 - 05:36 UTC
Full article 7 comments

Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between Argentina and the holdouts from speculative funds said that Thursday's meeting had failed and announced a new audience for Friday at 10:00 in the morning in New York. Read full article

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  • Holdout.from.Germany

    Comment removed by the editor.

    Jul 25th, 2014 - 06:28 pm - Link - Report abuse 0
  • been-there

    @ 1 “Argentina enters into good-faith negotiations with the holdout creditors ” do you relly believe they would do that? good faith negotiations? They don't know the meaning of “good-faith” yet.

    Jul 25th, 2014 - 07:06 pm - Link - Report abuse 0
  • Klingon

    @1 You are the retarded one who bought the bonds in the first place.
    Offer to take a moderate loss and move on.
    I liken your comments to flogging a a dead bloated up Shetland pony, continually whipping it till hair starts flying off and then expect it to win the Kentucky derby.

    Jul 25th, 2014 - 08:12 pm - Link - Report abuse 0
  • toxictaxitrader2

    Its all bluff!
    designed to establish that Argentina did,nt want settle with the holdouts but had to,thus getting a defence to R.U.F.O

    Jul 25th, 2014 - 10:57 pm - Link - Report abuse 0
  • Be serious

    Go straight to default and stop wasting everyone's time. China might pick up the tab but I wouldn't bank on it.

    Jul 26th, 2014 - 12:56 am - Link - Report abuse 0
  • Holdout.from.Germany

    FOLLOWING COULD BE THE SOLUTION TO END ARGENTINA'S NIGHTMARE DEFAULT

    The “RUFO” clause (Rights Upon Future Offers) expires as of December 2014. That means, that from 01/01/2015 Argentina can make a better offer to the Holdouts, than it made in 2005 and 2010.

    ARGENTINA MAKES NOW A BINDING PROMISE TO JUDGE GRIESA AND THE HOLDOUTS, THAT ARGENTINA WILL FULFILL THE COURT ORDER (EXTENDED TO ALL HOLDOUTS) AND REPAYS THE DEBT TO THE HOLDOUTS, AFTER THE RUFO CLAUSE EXPIRES IN DECEMBER 2014.

    Then, the Holdouts ask Judge Griesa to reset the stay until December 31, until the RUFO clause expires.

    Argentina enters into good-faith negotiations with the holdout creditors – ALL OF THEM –via the offices of NML Capital. A firm deadline should be set to reach an agreement, say January 2, 2015, two days after the expiration date of the Rights upon Future Offers clause.

    HOW COULD BE THE CONDITIONS FOR THE REPAYMENT?

    Argentina owes to today about 230% to the Holdouts (since 2002 Argentina had not repaid a cent to the holdouts)

    - at the latest, on 02/01/2015 (end of RUFO clause) Argentina would repay in CASH 100% of the nominal value of the defaulted bonds, which became due before 2015.

    - For the accrued interest between 2002-2015 (until now about 130%), Argentina would emit new bonds with a maturity of 5-7 years.

    Jul 26th, 2014 - 05:51 am - Link - Report abuse 0
  • golfcronie

    @6
    “ Argentina would emit new bonds with maturity of 5-7 years”. You are joking of course, why would anyone want new bonds when you don't pay out on the first bonds. Once bitten twice shy.

    Jul 26th, 2014 - 06:25 am - Link - Report abuse 0

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