Aurelius hedge fund denies being part of lawsuit filed against Petrobras

Tuesday, January 6th 2015 - 22:49 UTC

Full article 8 comments

“The lawsuit has been filed by the City of Providence (Rhode Island. Aurelius has nothing to do with it,” said the president of Aurelius Mark Brodsky

Argentine minister Kicillof accused Aurelius of a 'simultaneous attack' against Argentina and Brazil

Aurelius Capital Management, one of the main plaintiffs against Argentina in New York District Judge Thomas Griesa’s courtroom, has denied being part in a lawsuit filed against Brazilian state-owned oil company Petrobras, in response to accusations by Argentina’s Economy Minister Axel Kicillof.

“The lawsuit has been filed by the City of Providence (Rhode Island, US). Aurelius has nothing to do with it,” the president of Aurelius Mark Brodsky said in a statement.

Kicillof has referred to the lawsuit as a proof of the fund’s “simultaneous attack” against Argentina and Brazil, in an attempt to destabilize the region, in “a war without weapons with well-defined policy objectives.”

Aurelius, the economy minister said, is trying to “accelerate” the bonds, forcing Petrobras to pay capital plus interests in advance to bondholders, forcing the company into default, a conflict which he sees as structurally similar to what Argentina is going through.

Brodsky said that the lawsuit filed in the US “is an extension of a criminal probe opened by the Brazilian government” and accused Kicillof of “doing no favors to Brazil and Petrobras by likening Petrobras’ difficulties with those of Argentina.” He pointed out that “unlike Argentina, Petrobras continues to honor its debts and does not flagrantly violate the orders of an US Court.”

Categories: Economy, Argentina, Brazil, United States.

Tags: Argentina, Aurelius Capital Management, Axel Kicillof, Mark Brodsky, Petrobras, Thomas Griesa.

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yankeeboy
It would not be good for Brazil if PBR goes bankrupt. It hit is 52 week low today and its still trending down.

I don't think Brazilians realize how bad things are and how much worse they're going to get.
Jan 06th, 2015 - 11:00 pm 0
chronic
Elvisssssssssssssssssssssssss! Resign and seek medical help.
Jan 06th, 2015 - 11:28 pm 0
Brasileiro
The right thing to do is get away from the United States. How Camões said “Spain neither good winds nor marriage.” In this case I would replace Spain by the United States.

It is necessary that South America empty all the affairs and interests its have in the US. Only then we will be laying the foundations of legal and economic support to form strategic alliances with the BRICS and UNASUR, especially with Russia.

Forget these protectionist loudmouths US ... this is the way!
Jan 07th, 2015 - 10:24 am 0

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