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Griesa warns Argentina with 'contempt' if it continues with “false and deceiving statements”

Saturday, August 9th 2014 - 07:34 UTC
Full article 37 comments

New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank. Read full article


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  • Vulcanbomber

    i love this, keep winding the US up, keep moaning to Obama, its going to pop

    Obama cannot move against Griessa without bringing a huge wave of unhappyness in the US fed systems

    Even he is not stupid enough for that, so all these years of sucking up with CFK is now going to blow a huge hole in relations

    Hell, Obama may even stick up for UK on Faklands, as hes being backed into a corner

    At the end of the day, CFK has to pay

    Aug 09th, 2014 - 07:51 am - Link - Report abuse 0
  • Holdout.from.Germany

    Comment removed by the editor.

    Aug 09th, 2014 - 07:53 am - Link - Report abuse 0
  • british bomber

    The Argies have paid the trustees. This is why the European hedges and the nominees are going to change the trustees.

    Aug 09th, 2014 - 08:01 am - Link - Report abuse 0
  • Self-Determination

    Argentina......deceiving statements....why does this sound familiar?

    Aug 09th, 2014 - 08:04 am - Link - Report abuse 0
  • Jay Bee

    It's simple. Payment of part is not payment at all. Pay up in accordance with the contract you entered into Argentina.

    1 VB
    I always found that taunting the toughest kid in the school yard didn't get me far. Especially when he'd finally had enough and stopped and turned to face me.

    According to CfK she has the whole of SA if not the majority of the world behind her. Is there any evidence of this? What has any other country actually done apart from tell her they're behind her (or not objected like Wales did when TMBOA CLAIMED they were behind her)?

    Aug 09th, 2014 - 08:05 am - Link - Report abuse 0
  • Vectis

    If the judge dose find Argentina in contempt i can't see him slapping a fine on them as they don't pay, the next best thing would be for Griesa to put CFK over his knee and give her a spanking and tell her what a bad girl she is.
    Not a job i would relish

    Aug 09th, 2014 - 10:32 am - Link - Report abuse 0
  • owl61

    Mercy me, a law firm profiting from an unnecessarily protracted legal battle?
    Perish the thought! If Mr Blackman believes that he has been defamed by the ATFA, then as a hot shot lawyer surely he knows he may bring a defamation suit seeking damages. The problem is that in US law, truth is a complete defense.
    Argentina is the kind of client Wall St law firms dream about: rich, stubbornly self-righteous and easily led down the garden path. I wonder if Blackman is taping CFK.

    Aug 09th, 2014 - 10:41 am - Link - Report abuse 0
  • Conqueror

    @3. Hahahahahahahaha. Still trying to get your hands on granny's dosh? I think you'll find that Judge Griesa (blessings be upon his name) has got it all sewn up. If you keep reading, you'll find that all sorts of people can be cited for contempt if they attampt to evade the court's order. I seem to recall that, in a current European case, Russia is being fined something like €50,000 a day for an offence. Not sure where I read it now. Anyway, there's no “principle of proportionality”. The judge just makes sure it hurts.

    Aug 09th, 2014 - 10:55 am - Link - Report abuse 0
  • ChrisR

    Blackman and the firm he works for have tried all the fiddles with the truth before with TDC at the last default. They have a Playbook: it didn't work too well then and it certainly isn't working now. But they get paid whatever happens.

    Stupid is as stupid does it seems.

    I do hope there is a warrant for Kickitoff in the US computer for when he next lands in the US.

    Aug 09th, 2014 - 11:40 am - Link - Report abuse 0
  • ilsen

    ... is enjoying popcorn at the disaster movie.

    Aug 09th, 2014 - 12:27 pm - Link - Report abuse 0
  • Falkland Islands

    Argentina acting like spoilt children as usual.

    Aug 09th, 2014 - 01:24 pm - Link - Report abuse 0
  • Englander

    Screw em Griesa, you might or might not be wrong but the law is the law and must be respected. If not Argentina will only succeed in exporting anarchy.

    Aug 09th, 2014 - 01:25 pm - Link - Report abuse 0
  • reality check

    Griesa is showing remarkable tolerance and understanding.

    In my opinion, when you dealing with these people, they will only take that has a weakness.

    They only respect strength and I think the time is getting very close when he is going to take the gloves off.

    Then again? There is a small part of me that thinks that Griesa is just giving them enough rope!

    Aug 09th, 2014 - 01:40 pm - Link - Report abuse 0
  • ilsen

    Carry on like this and the K gang won't be able to leave their own country with out fear of arrest.
    Which is of course, a Good Thing.

    Aug 09th, 2014 - 02:04 pm - Link - Report abuse 0
  • chronic

    “On Friday, Jonathan Blackman, a lawyer representing Argentina, raised concerns that he and his firm had also been the target of a “malicious” campaign to discredit his work.”

    Your work discredits itself.

    Aug 09th, 2014 - 02:21 pm - Link - Report abuse 0
  • reality check

    Uh! Wke me up, I think I just shit my bed!

    WTF a lawyer worrying about being called names!

    Jesus Chris, that comes with the territory.

    Your not representing them out of a sense of justice.

    Your representing them because your being paid a fucking lot of money to do so.!!!!!

    A lawyer whinging about being called names.

    Shit, I have heard it all now.

    Fucking hell! He needs o to get into his Porsche, drive to his mansion and take a good long soak in his pool and while he's at it, get the pool boy to fetch him a long cool glass of Martini!!!!!!!

    Shit, my arse bleeds purple piss!

    Aug 09th, 2014 - 03:20 pm - Link - Report abuse 0
  • Room101

    (16) Scatology aside, and your buttock ailments being irrelevant, you are nevertheless right: no lawyer should be offended by “bad” publicity...It was probably a deliberate stall- ploy on his inadequate representations anyway: he knew the case would get nowhere; (as they all do) it's just playing for time.

    Aug 09th, 2014 - 04:33 pm - Link - Report abuse 0
  • reality check

    Sorry about that. My flabber was gassed.

    Let's be honest, the only reason that a fairly high academic achiever becomes a lawyer, is for one reason and one reason only, it's a lucrative profession.

    There are very few of them who actually become lawyers to serve to fight for right against wrong and injustice. Those that do, usually wind up working for people like Amnesty International, Green Peace, etc, etc and earn a fairly decent salary.

    The vast majority work for firms and if they are good, wind up with a partnership and earn enormous sums.

    Take our system of criminal law. Every person is entitled to representation and it should be so, but it's still paid for, it's not a free right. I and you if you live in my country, pay through it through our taxes.

    Go into any Emergency Department in an hospital in this country and you will see posters from legal firms canvassing for malpractice cases, you can read it up there on the wall, while you are waiting to be treated! Why are they there? because they pay the Health Authotities to display them.

    I've sat opposite detained people in an interview room, whilest their solicitor or more often, their clerk, has been filling out the Legal Aid Application! And had to tell them to do it in their own time, because the detention clock was running!!!!!

    So yes, I do find it incredulous to Hera a lawyer whine about being called names, lawyers, not all of them as I have previously stated, do not give a shit about their clients. They provide a service within the system and they expect to be paid for it.
    That's why they do it.

    If you think I am wrong, try not paying them and see what happens!

    Which in the context of this case, I find rather hilarious!

    Aug 09th, 2014 - 05:00 pm - Link - Report abuse 0
  • Pugol-H

    Cleary Gottlieb Steen & Hamilton have made a good living out of this for many years now.

    With no sign of the job coming to an end.

    They are a real winner in this, Argentine tax Pesos at work, paying their bills.

    And now free publicity as well from the vulture funds no less.

    @ 18 reality check
    In this case I think the “bill” will be paid in Dollars, up front.

    Aug 09th, 2014 - 05:26 pm - Link - Report abuse 0
  • reality check

    You can be certain, any communication from a lawyer, will always include the the bill!

    Aug 09th, 2014 - 06:04 pm - Link - Report abuse 0
  • Brit Bob

    'False and Misleading Statements' - that'll be Argentina. Well worth its 106th position in the Global Corruption Index.

    Aug 09th, 2014 - 06:26 pm - Link - Report abuse 0
  • Alistair Nigel (EUian)

    Griesa is definitely showing clear signs now that he has lost impartiality and he has made it personal. Speaks very poorly about the professionalism of the US judges, but I already knew that.

    Aug 09th, 2014 - 10:43 pm - Link - Report abuse 0
  • ilsen

    So Argentina is helping US Lawyers get rich? Laughable!

    Judge Griesa has been completely impartial, it is only Argentine propaganda that is making anything personal by attacking this man because they don't like the outcome. Childish behaviour.

    Argentina: Spending other people's money since 1816

    Aug 09th, 2014 - 11:58 pm - Link - Report abuse 0
  • Alistair Nigel (EUian)

    Show the evidence he has been impartial.

    Aug 10th, 2014 - 12:12 am - Link - Report abuse 0
  • chronic

    So I was reading Zaffaroni's comments regarding Griesa and his position in the judiciary and it got me to thinking. Virtually every statement he made regarding him was materially incorrect. Not matters of degree or shades of color - simply wrong.

    Similarly, much of the descriptions Cretina and Elvis give regarding not only the structural but functional aspects of various foreign institutions is obviously lacking or again totally incorrect.

    Others in the adminstration sometimes exhibit slightly more accuracy but often substantially less on the same topics.

    Now in addition to being humorous to those of us who are slightly better informed it got me to thinking - particularly since their endless string of abberant behavior has now been demonstrated - to them - to be unproductive to the point of possiblly wrecking an already fragile economy:

    What is the deal?

    Are they - the entire regime - this incredibly misinformed?

    Is there a education/intellegent quotient anomaly between Argentina and the Northern Hemisphere? Things can happen in nature. North Koreans - for example - are now measurably shorter than there South Korean counterparts and this ocurred in a span of only 60 years.

    Or are they simply so used to bending the truth without an independent third estate that they know that no one will hold them accountable?

    Come on! Some of the stuff that they are spouting is so obviously fabricated that the world can bearly keep a straight face while they are delivering it. It's almost certain that the Obama adminstration finds this humorous (and ironic) since they previously tried to intervene on their behalf. And I am almost certain that Griesa has never seen a circus like this one in his entire career. Most of the Wall Street pundits are standing there slack jawed waiting for the next stunt out of BA.

    What gives? Ignorance? Unabashed misrepresentation? Psychosis? Delusions?

    The floor is open. PLEASE enlighten me. lol

    Aug 10th, 2014 - 01:06 am - Link - Report abuse 0
  • ilsen

    I don't need to show you. It is all online. Do your own work.
    Typical Argentine. Wants me to do all the work but won't pay.
    Typical and sad.

    Aug 10th, 2014 - 05:07 am - Link - Report abuse 0
  • golfcronie

    Show the evidence he has been partial

    Aug 10th, 2014 - 07:36 am - Link - Report abuse 0
  • ilsen

    Haha! Golf. Good call! (And no response from trolley boy I see)

    Aug 10th, 2014 - 11:09 am - Link - Report abuse 0

    The Argentine Government Playbook:

    Plan Objective: Never pay suckers.

    Plan Outline:
    1. Stall.
    2. Keep stalling.
    3. Keep stealing and enriching yourself while stalling.
    4. Exploit Cleary Gottlieb Steen & Hamilton for everything possible.
    5. Terminate and replace Cleary Gottlieb Steen & Hamilton when expedient, especially if held in contempt of court.
    6. Stall by further name calling, and begging appeals to the IJC.
    7. When that fails, continue stalling.
    8. When the Truth Commission comes calling at your door in Mar del Plata, have the maid stall, and run like hell out the back door into the night.

    Venezuela, Bolivia, Russia, and Iran are waiting to greet you and your stolen money with open arms.

    Aug 10th, 2014 - 11:50 am - Link - Report abuse 0
  • chronic

    29 LOL

    Aug 10th, 2014 - 12:57 pm - Link - Report abuse 0
  • Monkeymagic

    The evidence that he has been impartial.


    The contracts that Argentina signed....Griesa is holding them to them, to the letter.

    Complete impartiality.

    Any other judgement would be taking into account things external to the signed contracts and would be partial.

    Now show he has been partial and in any way has ruled against the legal contracts signed by the Government of Argentina, which included abiding by this courts rules.

    Aug 10th, 2014 - 03:37 pm - Link - Report abuse 0
  • Conqueror

    @22, 24. You don't get it yet, do you? Because you're thick. You make an accusation. Provide your evidence. All of it. You don't get a “rebuttal”. This is the way it works in a proper system. You make an accusation. You produce your evidence. We show why you're a lying, turd-eating, ignorant asshole. Then, after the evidence has been weighed by an impartial panel, you get found guilty and get your balls, if any, chopped off. Come on. What have you got to lose?

    Aug 10th, 2014 - 05:21 pm - Link - Report abuse 0
  • chronic

    “Notwithstanding the foregoing, Argentina’s obligations to make payments of principal and interest on the New Securities shall not have been satisfied until such payments are received by registered holders of the New Securities.”

    Aug 10th, 2014 - 06:12 pm - Link - Report abuse 0
  • MrFlagpole

    Argentina “false and deceiving statements” who could think such a thing.

    Aug 10th, 2014 - 08:27 pm - Link - Report abuse 0
  • Conqueror

    I “like” Kicillof. I shall be putting forward his undoubtedly correct view of financial transactions the next time I deal with my credit card company (bank). So, I shall tell it that I put a cheque in the post and have thus fulfilled my responsibilities. Naturally, I will also argue that I am “sovereign” and cannot be forced to pay for anything. After all, have I not “paid” them the supreme compliment of using their card? Under the English judicial system, how long before I'm in court? But I won't have finished. I will then claim that the court was “partial”. I know that that suggests I would know what the court's verdict would be but that's not really relevant. The whole system is wrong. What we need is a new system involving a special “court” composed of bankrupts and fraudsters. Naturally, there will need to be new “rules”. A signed agreement withh the credit card company is, of course, irrelevant, meaningless and unenforceable. It must be set aside. How was I to know that I wouldn't want to pay? Now we're starting to get somewhere! I think that, at the end, I can safely say that the credit card company will regret trying to act against me. I foresee it having to pay me huge sums in damages. This is fair. After all, it has more money than me. Maybe, after it's paid me the damages, I might consider giving it the money it says I owe it. Not really likely though. Mustn't forget that the “court” found in my favour. Will I need a new credit card?

    Aug 11th, 2014 - 10:15 am - Link - Report abuse 0
  • pgerman

    Emanates from bilateral agreements between China and Argentina that obligations will be led by the law and the courts of England.

    Minister Axel Kicillof gave banks and Chinese companies finance investments in Argentina a similar international legal protection to which the government questioned the vulture funds. The annexes to the treaties were signed, the Economy Minister agreed special jurisdiction to chinese firms and accepted the intervention of foreign courts to settle any potential disputes. This arises from the bilateral agreements which stipulates that obligations will be governed by the law and the courts of England.

    It also provides that any arbitration shall be in the International Chamber of Commerce, based in Paris.

    Kicillof agreed to step down as “irrevocable and unconditional” objection raised to any future international tribunals chosen by Argentina and China.

    The assignment of judicial sovereignty is explicit in loans for retrofitting “Belgrano Cargas”. The 1071 decree is already known and the extension of jurisdiction is located in the leafy Annex 400 folios. But the concessions would be similar in loans for hydroelectric megaprojects Santa Cruz and other financial agreements to be signed today with Xi Jinping methodology would have the same format as that included in the leonine agreement with Chevron.

    The current argentine government hides the text because its diffusion entail a high political cost. Delivering Kicillof judicial sovereignty contradicts the “story” Cristina Kirchner's own against the clauses that were granted in foreign debt in favor of the courts of Manhattan, where the conflict is settled with vulture funds. Cristina made this a flag and questioned the previous governments that accepted external courts, like Thomas Griesa.

    Aug 11th, 2014 - 01:13 pm - Link - Report abuse 0
  • Briton

    We want to see Griesa hold the argentine government in contempt, and issue warrant's for their arrest...

    Aug 11th, 2014 - 07:50 pm - Link - Report abuse 0

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