Bad omen for Argentina and Citibank in their appeal over bond payments

Friday, September 19th 2014 - 06:11 UTC

Full article 18 comments

U.S. appeals court signaled its displeasure with Argentina on Thursday as Citigroup warned it faces “serious and imminent hazard” if it follows a judge's order not to process an upcoming interest payment due to bondholders. The hearing ended with not resolution but a pledge to decide on the matter 48 hours before the end of the month. Read full article

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Conqueror
Wriggle, wriggle, wriggle. Poor Citigroup. Lose your argie licence or lose your U.S. licence. How many Citigroup employees are U.S. citizens? Best if they leave argieland. Might be best if Citigroup avoided doing any business with the argie 'government'. Ever. But what is Citigroup worried about? It's not their money. It's the customers' money. Hang on, it's a bank. Who's heard of a 'bank transfer'?
Sep 19th, 2014 - 09:34 am - Link - Report abuse 0
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british bomber
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If Citigroup think it has problems just wait for BNY to run up against English law. I hope those bankers have packed their prison clothes.
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Sep 19th, 2014 - 09:38 am - Link - Report abuse 0
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Briton
The world needs to stop her pocket money...lol
Sep 19th, 2014 - 09:53 am - Link - Report abuse 0
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yankeeboy
Arg lost.
Citi's assets in Arg are a measly U$2B out of almost U$2T in total assets.
Not even a blip on their balance sheet.
Just a small quarterly write off
But a major blow to Argentina and if they do this to Citi it will make the other Int'l banks pull out.
Sep 19th, 2014 - 10:52 am - Link - Report abuse 0
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hurricane
Another woman whiner . If you want to be in a man's role, stop whining and WOMAN up.
Sep 19th, 2014 - 10:55 am - Link - Report abuse 0
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McClick
i know as Wells Fargo not to Citibank
anyway , i can resolve it easily when i came there.
Sep 19th, 2014 - 11:34 am - Link - Report abuse 0
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La Patria
I never knew Annie Lennox was a lawyer.
Sep 19th, 2014 - 12:10 pm - Link - Report abuse 0
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Klingon
Maybe a run on Citibank next week as everyone pulls their $ out before they get shut down.

My prediction the blue will be at 15.85 by next Friday.
The judges are not going to go against Gresia, simple as that.

Citibank could just rename the payments “bondholder bonuses” and pay them out some other way. Problem solved.
Sep 19th, 2014 - 12:42 pm - Link - Report abuse 0
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yankeeboy
I doubt they would risk being so blatant against Citi, my guess is they will audit them, harass them through regulations, slow pay through BCRA, until they are forced to leave.

Why oh why are the the Rgs so apathetic?
It is baffling and sickening.
Sep 19th, 2014 - 01:22 pm - Link - Report abuse 0
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Holdout.from.Germany
It is unlikely, that the U.S. Court of Appeals will Argentina give in, and the Citibank payment approves. If the U.S. Court of Appeals gave in, Argentina would be confirmed in its line of not-respecting the U.S court judgements.
( IN THE BOND CONTRACTS ARGENTINA HAS EXPLICITLY WAIVED ITS SOVEREIGN IMMUNITY! )
Sep 19th, 2014 - 03:27 pm - Link - Report abuse 0
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chronic
Hey guys, this is a twofor!

You get ShitiBank and rotting roadkill with one stone.

What's not to like?
Sep 19th, 2014 - 04:16 pm - Link - Report abuse 0
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ChrisR
“I'm not sure why we're even listening to this,” said Circuit Judge Reena Raggi. “Your client is the person or entity holding the gun to Ms. Wagner's client's head.””

It's what The Dark Country does best!

But it's usually their own feet they manage to shoot.

WTF are Citibank even bothering with these twats, just leave the damn place, it's more trouble than it's worth.
Sep 19th, 2014 - 06:13 pm - Link - Report abuse 0
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RICO
I foresee a fire sale of Citibanks Argentine branch to someone who doesn't give a shit about the US. Followed by a 10% chance of other international banks pulling out, 100% chance of them cutting any investment plans.
Sep 19th, 2014 - 07:24 pm - Link - Report abuse 0
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Klingon
Citi groups case has been thrown out.

Citi bank Argentina is doomed now.
Sep 19th, 2014 - 08:49 pm - Link - Report abuse 0
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british bomber
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at 9
yankee boy hepia That will not happen in Europe. If BNY directors do not pay the nominees then they will go to gaol and stay there. English judges are not weak like Argie judges.
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Sep 21st, 2014 - 02:09 pm - Link - Report abuse 0
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Captain Poppy
How many months has it now been bb/hep c?
Sep 22nd, 2014 - 11:38 am - Link - Report abuse 0
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british bomber
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at 16
Not hip c.
Captain poppy heptia three weeks. But we will chase Wall St highway robbers for ever if necessary. We are the 93 percent.
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Sep 23rd, 2014 - 06:12 am - Link - Report abuse 0
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Captain Poppy
SO again how long has RGlanad been in default and Argentines like you heep saying:

Here comes the judge
Here comes the judge
Better watch out now cause here comes there judge

Yawn........whatever.
Sep 23rd, 2014 - 12:21 pm - Link - Report abuse 0
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