'A contempt of court does not apply to sovereign Argentina', says Capitanich

Thursday, August 21st 2014 - 08:06 UTC

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The cabinet chief during his daily morning media conference

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.

“When they talk of contempt, they fail to see that Argentina is sovereign and has sovereign immunity,” Capitanich said in his daily press briefing on Wednesday at the government house. In the past weeks, Griesa has threatened the government with a contempt-of-court ruling and has specifically warned against a change of debt’s jurisdiction, which he said would be considered a breach of the ruling.

Asked about the consequences of such ruling, the chief of ministers said they “should be explained by the judge” because a contempt order “does not apply to a sovereign country as the Argentine Republic.”

Meanwhile, Capitanich also blasted “big concentrated transnational groups” seeking to “impose conditions to go back to vicious circle of debt and permanent extortion Argentina has suffered.”

Categories: Economy, Politics, Argentina, United States.

Tags: Argentina, Cristina Fernandez, holdout hedge funds, Jorge Capitanich, Thomas Griesa.

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reality check
Of course it doesn't, that's why the court wont be able to seize yor assets, now will they?
Aug 21st, 2014 - 08:16 am 0
DennisA
Whilst I am no supporter of the government, it does seem to me quite right that a sovereign country cannot be held in contempt of a unilateral court in another country. As for a US court sending bailiffs into another country to seize assets, what an international incident that would be.
Aug 21st, 2014 - 08:41 am 0
Welsh Wizard
@2 - There did sign away their sovereign immunity so, in the case of the bond dispute and actions resulting from it or courts orders as a result of it, they CAN NOT rely on sovereign immunity, as they signed it away.

Secondly, no-one is suggesting that bailiffs will enter Argentina and seize assets. They will take assets based in the jurisdiction of the court order (i.e. US)
Aug 21st, 2014 - 09:13 am 0

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