MercoPress. South Atlantic News Agency
Argentine Euro-bond holders have appealed Griesa's ruling blocking payment
Holders of Euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking Argentina from making payments on their debt, according to a court filing. Read full article
Comments
Disclaimer & comment rulesWell, we will soon see whether the Euros get a bye.
Aug 16th, 2014 - 11:01 am - Link - Report abuse 0I think it will be more of a bye, bye and shut the door on the way out; if only for the fact that all big banks have a branch in NY and the overarching Fed rules will stop them.
And where is the money? In a U.S. bank. Forget it europrats. Of course, there is an option. Tell argieland to deposit another 539 million dollars in a European bank. If any European bank will accept such a deposit. Meanwhile, the 539 million dollars in the New York bank can be paid to the holdouts. Argieland couldn't stop it. It's “paid”. No longer its money. A quarter of argie debt paid.
Aug 16th, 2014 - 01:20 pm - Link - Report abuse 0There is little doubt that holders of bond under United Kingdom laws are entitled to be paid. Europe is not under US jurisdiction, and jurisdiction is what counts.
Aug 16th, 2014 - 07:45 pm - Link - Report abuse 0“Governing Law
... interpreted in accordance with, the laws of the State of New York or the laws of England and Wales ...
Jurisdiction, Consent to Service, Enforceability and Immunities from Attachment
The securities and the indenture provide that, subject to certain exceptions, Argentina will submit to
the following courts (to which we refer collectively as ””speciÑed courts'') in connection with any suit, legal
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action or proceeding against Argentina or its properties, assets or revenues with respect to the securities or
the indenture:
o: with respect to securities governed by New York law, any New York State or U.S. federal court sitting in the Borough of Manhattan, The City of New York and the courts of Argentina; and
o: with respect to the securities governed by English law, the courts of England and the courts of Argentina.
2005 Original prospectus for Argentina’s 2005 debt exchange
http://www.mecon.gov.ar/finanzas/download/us_prospectus_and_prospectus_supplement.pdf
Hahahah, what a mess.
Aug 17th, 2014 - 02:03 am - Link - Report abuse 0This is the other court case. What the stupid yank judge doesn't understand is the bonds have nothing to do with America. I think that because the trustees have been so dishonest they will have to be changed. This is just yank arrogance.
Aug 17th, 2014 - 05:30 am - Link - Report abuse 0This is not yankee arrogance.
Aug 17th, 2014 - 09:33 am - Link - Report abuse 0The problem and confusion stems from the fact, that this issue of bonds are nominated in US dollars, but governed by English law, when they should have been separated in 'US$+US law' and 'Euro+English law' (and Yen+Japanese, Lire+Italian, D-Mark+German, ...), but the clowns didn't.
The “money” is in a U.S. bank and under the control of a U.S. court.
Aug 17th, 2014 - 04:18 pm - Link - Report abuse 0If the USA judicial system had been more concerned about racial relations in the USA instead of some foreign bonds, perhaps what the world is seeing tonight would not have happened!
Aug 18th, 2014 - 03:07 am - Link - Report abuse 0How embarrassing! Argentina is bankrupt and yet there is more civil unrest in the USA than here! hahaha, banana republic up north.
at 6
Aug 18th, 2014 - 03:48 am - Link - Report abuse 0Not true. The bonds are in Euros. The law is English. The money is paid into an argie bank. You yanks are really dumb. Try and keep up. Yank arrogance.
The NorthAmoans are now too busy with their little Racial Holy War.
Aug 18th, 2014 - 05:03 am - Link - Report abuse 0Oh well, Argentina wins again.
#9 well Hep let us know how your bond payments is going without paying them all.
Aug 18th, 2014 - 03:02 pm - Link - Report abuse 0The English case is starting to ramp up bit not reported here.
Aug 19th, 2014 - 06:15 am - Link - Report abuse 0Yes of course it is.....yaaaaaaawwwn!!!
Aug 19th, 2014 - 09:26 am - Link - Report abuse 0Meanwhile....the Titanic is sinking and went down in less than 2 hours.
Looks like the Argies are going to switch away from the trustees. My grandmother has not received any official documents yet. This will happen before the English case can be heard. This will get it away from the stupid yanks.
Aug 20th, 2014 - 07:17 am - Link - Report abuse 0Hep C there are thousands of bondholders....thousands. Where are they getting the records from on who to pay and how much and whom was already paid........BoNY? These are traded bonds and ownership changes on a daily basis.
Aug 20th, 2014 - 09:35 am - Link - Report abuse 0Good Luck
at 15
Aug 20th, 2014 - 11:01 pm - Link - Report abuse 0I don't know who hep c is. Nominees have the records.
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