MercoPress. South Atlantic News Agency
New York Court of Appeals delays decision on Argentina's contempt of court
The New York Court of Appeals has decided to push back its decision on Argentina for another week, as the Cristina Fernandez administration seeks to overturn the contempt ruling imposed by judge Thomas Griesa in the ongoing conflict against holdout investors. Read full article
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Disclaimer & comment rulesStill 'in contempt' of a Court they willingly agreed the juridiscation of when desperate for cash but fight when the accounts come due.
Mar 25th, 2015 - 11:51 am - Link - Report abuse 0Sneaky, underhand and untrustworthy. I hope no-one ever lends them money ever again.
Argentina's track record on every single judgement is a loss.
Mar 25th, 2015 - 12:39 pm - Link - Report abuse 0They will lose this one too
I can't wait to see what the penalties are and whom they are directed to...
@2. As I read it, the contempt is indirect. But, aside from refusing to comply with the orders of the court, argieland is also guilty of various other contempts by publicly abusing the court. Wouldn't it be reasonable to have both civil and criminal penalties? So let's call it US$50,000 per day from the date of the order. Then there's the criminal aspect for publicly abusing the court. How about 6 months' imprisonment for each offence? Wouldn't it be hilarious if Kicilloff, Timerman and others couldn't travel to the any United States territory because a US Marshal would be waiting for them? 'Diplomatic privilege' not recognised. “Sorry Senor Kicilloff, your status is not recognised by the United States. Still, it's only three years”.
Mar 25th, 2015 - 02:22 pm - Link - Report abuse 0Ah, the old good times of the gunboat diplomacy!
Mar 30th, 2015 - 05:18 am - Link - Report abuse 0It was sooo much simple then. The central countries would not have to bother with judges, appeals, contempt--disobedience--and similar bothersome things.
As defined by British diplomat James Cable, “the use or threat of limited naval force, otherwise than as an act of war, in order to secure advantage or to avert loss...against foreign nationals within the territory or the jurisdiction of their own state.”
Vultures back off.
Enrique, if second -rate countries such as Argentina didn't lie, cheat and attempt to steal other people's money, then there wouldn't been any need for any of this.
Mar 30th, 2015 - 11:45 am - Link - Report abuse 0Pay up!
I understand you may have some money to recover and that's why you are fixated on the Pay up! thing.
Mar 31st, 2015 - 03:30 am - Link - Report abuse 0Or perhaps you just don't like the current Argentine government and hope it will cave in, pay up, become hugely unpopular and make her party lose the next election.
However, it's funny how the powers that be and even some individuals are so bent on shouting “Pay up.”
Did you know that in 2001 Argentina's foreign debt was $144 billion?
Did you know that since 2003 to Oct. 2012 Argentina paid a total $270 billion, reducing the foreign debt from 150 per cent of the annual GDP to 34 per cent?
That's right. From 2003, the government that you and some others love to hate did not stop paying and paying.
Griesa, having in his hands the vultures' claim, could have send them packing, which would have created better conditions for a mutually negotiated payment. With Griesa's backing, one can understand the vultures' uncompromising posture.
One can also understand Cristina's posture. She owes loyalty to her electors. Not to Griesa. Not to Singer. In the place where she is, Cristina can only do one thing and that's resisting Griesa's ruling.
You may say I don't care, Argentina Pay Up!
Accordingly, Cristina could say, “I do care. I care about my country and I am not about giving it up.”
And of course she couldn't care less about your Pay Up! shouts.
Wonder where Fat Max got his $40 million from?
Mar 31st, 2015 - 10:35 am - Link - Report abuse 0Maybe mommy-dearest does pay up for certain people?
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