Italian bondholders' representative supports Argentina decision to change debt's jurisdiction

Thursday, August 21st 2014 - 06:58 UTC

Full article 6 comments

“I care about the money reaching bondholders’ pockets” stressed Zembo

The Italian legal representative of Argentine bondholders, Tullio Zembo praised the Sovereign Public Debt Payment Law announced by President Cristina Fernandez, saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropriate.”

Zembo said that the Argentine government's proposal to remove bank of New York Mellon (BoNY) as payment agent “should be accepted” in order to “guarantee payment in time and manner, as it has been so far.” The Italian lawyer said this decision was “inevitable” because “no other solution was available.”

“I would tell bondholders to receive payment,” Zembo said and called on exchange creditors to agree on the voluntary change of jurisdiction proposed by Argentina to “end (the dispute) once and for all” .

“I care about the money reaching bondholders’ pockets,” he stressed.

Zembo highlighted “Argentina’s willingness to pay,” challenged by US Judge Thomas Griesa’s order to block the deposits made by the government at the Bank of New York Mellon.

Categories: Economy, Politics, Argentina, International.

Tags: Argentina, Bank of New York Mellon, holdout hedge funds, Thomas Griesa, Tullio Zembo.

Top Comments

Disclaimer & comment rules

ChrisR
Yes, there IS another solution Zombie: The Dark Country should pay what it owes to everybody in accordance with Griesa's instructions.

END OF.
Aug 21st, 2014 - 12:15 pm 0
toxictaxitrader2
Italians in retreat again!
trousers down,asume the postion ,your about to get f**cked again!
Aug 21st, 2014 - 12:23 pm 0
Captain Poppy
#2 they are stuck in that mode since WWII.
Aug 21st, 2014 - 02:01 pm 0

Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!