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Argentine bondholders file for 'me too' at Judge Griesa's court: claims reach 6.5bn

Sunday, November 9th 2014 - 10:35 UTC
Full article 14 comments

Argentina told New York district judge Thomas Griesa that bondholders filed 25 lawsuits since June, when the judge ordered blocking the country's from paying its restructured debt without also paying a group of holdouts, Bloomberg news has reported. Read full article

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  • ilsen

    Tick tock.
    Tick tock.
    Tick tock.

    (Bet they haven't really got the $28 billion, or even the $6.5 billion 'necessary'. No wonder Kretina is feeling a little faint and in need of a lie down in a darkened private hospital room)

    Tick tock.
    Tick tock.
    Tick tock.

    (Anyone going to the march on Thursday?)

    Nov 09th, 2014 - 10:51 am - Link - Report abuse 0
  • yankeeboy

    I can't imagine the Italians won't pile on. EOM Jan when there's no deal in site the “holdin” bondholders will accelerate. In 2Q2015 the IMF will put them on the road to expulsion.
    By then BCRA will be bone dry and I think next year's grain crop will be a bust. Why bother planting when its unprofitable?
    So fun to watch
    so fun

    Nov 09th, 2014 - 12:45 pm - Link - Report abuse 0
  • Trunce!

    “There can be no equitable basis for seeking to compel the Republic, whose reserves are approximately 28bn and must be used for critical macroeconomic purposes”

    Like circa $3.5 billion on Saab Gripon fighters...

    Nov 09th, 2014 - 01:40 pm - Link - Report abuse 0
  • chronic

    Distraction: rotting roadkill isn't going to negotiate in good faith with anyone. Ever.

    They will forfeit their assets only when they have no choice. To think otherwise is ludicrous.

    Nov 09th, 2014 - 05:25 pm - Link - Report abuse 0
  • BOTINHO

    Ola Ilsen -

    Oh, I think they have it.

    It is just that it is held in private accounts that have been skimmed off or stolen outright from government funds, as Sr. Lanata has clearly shown.

    Panama, Nevada, USA, the Seychelles, etc. Just follow the money and the shell corporations.

    Nov 09th, 2014 - 05:49 pm - Link - Report abuse 0
  • ChrisR

    After all our predictions and the argie twats denying they were ever going to come true, here we are, on the cusp of The End Is Nigh.

    https://www.youtube.com/watch?v=ko2JbYTNgDw

    I just love the desolate wasteland in the background of this picture: so reminiscent of TDC now, one can only imagine what it will be like when January comes.

    What about all the argie traitors going to BEG Griesa’s Little Helper to put them on the payout list. Just because they want their money back: cheeky beggars!

    Money back, you want YOUR money back?

    Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, you know the rest. :o)

    Nov 09th, 2014 - 07:20 pm - Link - Report abuse 0
  • ilsen

    Ola BOTINHO -

    I think you are correct, the truth is out there!
    (Switzerland, or the Cayman Islands perhaps?)
    :-)

    Nov 09th, 2014 - 07:37 pm - Link - Report abuse 0
  • Briton

    Argentina Buying Gripens? Brits Say 'No Way'
    http://www.defensenews.com/article/20141108/DEFREG05/311080014/Argentina-Buying-Gripens-Brits-Say-No-Way-?odyssey=nav|head

    Argentina’s Defense Minister Agustin Rossi surprised just about everybody when he announced on Oct. 21 that his government intended to buy 24 Saab Gripen E fighters to re-equip his nation’s ancient Air Force.
    But Rossi’s request appeared to ignore a likely insurmountable hurdle to the sale: Britain, its longtime foe, has a near veto on the export of the combat jet as a result of the substantial number of UK systems in the jet. More than 30 percent of the new version of the Gripen being developed by Saab is supplied by British industry
    ,,
    British business secretary Vince Cable invoked the ban on the sale of all military and dual-use technology for use by Argentina in 2012

    We are determined to ensure that no British-licensable exports or trade have the potential to be used by Argentina to impose an economic blockade on the Falkland Islanders
    .

    Nov 09th, 2014 - 08:18 pm - Link - Report abuse 0
  • ilsen

    Well that should free up a bit of cash to help them meet their debt obligations.
    :-)

    Nov 09th, 2014 - 08:26 pm - Link - Report abuse 0
  • BOTINHO

    Ola Ilsen -

    There could be others, but I don't think Switzerland is being used.

    A few years ago there was a very public dressing down of Montoyo, the union leader and his holdings in Switzerland. There was a Swiss investigation, followed by a Swiss representative having to assure the Argentine government that they were not part of this investigation (somehow).

    For that reason I think they would not be using Switzerland, or if they had been, such assets would have moved quietly but quickly.

    Given the excellent staff and investigative resources available to them, I'm quite sure Mr. Singer, and Sr. Lanata would know.

    Nov 10th, 2014 - 03:41 am - Link - Report abuse 0
  • Briton

    Perhaps there is some old sawfish planes they could buy...lol

    Nov 10th, 2014 - 08:44 pm - Link - Report abuse 0
  • golfcronie

    I know someone with a SOPWITH CAMEL to sell. LOL

    Nov 10th, 2014 - 11:14 pm - Link - Report abuse 0
  • Troll in The Dark

    These bankers are SOOOO dumb! No wonder they wreck the EUian and NortAmian economies every 8-10 years.

    They are doing nothing but PROVING Argentina's point! The point Argentina has made for 12 years, that if they accommodated the holdouts, then they would have to accommodate in the same terms ALL holders of debt! Which would make sovereign restructurings in the future untenable since for all intents and purposes the holders of the debt can get principal AND interest regardless of outcome. Then why would then capital markets charge higher interest rates for junk bonds if the risk of loss is de facto eliminated? You then destroy the precious capital markets for anyone under AAA rating.

    Since the powers above the banks don't want this to happen, they are now all siding openly with Argentina. And at the end of the day, governments win over corporations, even banks.

    Nov 11th, 2014 - 01:35 am - Link - Report abuse 0
  • Troy Tempest

    ““There can be no equitable basis for seeking to compel the Republic, whose reserves are approximately 28bn and must be used for critical macroeconomic purposes, to do the impossible by paying in full its holdout debt,” Boccuzzi said in the letter.”

    That is an interesting point.
    However, the 'Holdouts' have said all along that they wanted to negotiate with Argentina.
    Argentina have refused to pay, and refused to meet with Singer in NYC, repeatedly.

    Nov 11th, 2014 - 07:36 am - Link - Report abuse 0

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