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Montevideo, May 24th 2019 - 23:08 UTC

Argentina wins a battle in its ongoing struggle with hedge funds

Tuesday, August 11th 2015 - 07:55 UTC
Full article 14 comments

Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million. Read full article

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  • Briton

    Rightly or wrongly,
    Argentina should just pay its debts.

    Aug 11th, 2015 - 09:50 am - Link - Report abuse 0
  • LEPRecon

    Hardly a huge win for Argentina. Basically all the court has said is that the holdouts can't be paid as one entity, that all their cases will be assessed on an individual basis.

    Argentina still has to pay the money though.

    However, I'm sure our resident trolls will be along shortly is orgasmic rapture, claiming victory because they've put out a fire in a waste paper bin, whilst all around them the building burns.

    Aug 11th, 2015 - 10:51 am - Link - Report abuse 0
  • Conqueror

    At the end of the day, argieland still needs to pay around US$100 billion. It isn't going away. One way or another, the world demands. Pay up, or else.

    Aug 11th, 2015 - 11:45 am - Link - Report abuse 0
  • Voice

    ....it's one of Yankeeboy's predictions....I reckon...;-))))

    Aug 11th, 2015 - 12:15 pm - Link - Report abuse 0
  • yankeeboy

    Nah I had no opinion. Its irrelevant to the larger case.
    The fact that bcra is having to use 1/2 to 1/3 of their cash to pay the next bond payment shows Singer has already won.
    Very soon Griesa will rule that bcra enarsa ypf are alter egos of the fed govt then the game is over.
    I just wonder what will happen first hyperinflation or that?
    Either is fine with me.
    .

    Aug 11th, 2015 - 01:47 pm - Link - Report abuse 0
  • Enrique Massot

    It's interesting to see how many times Judge Griesa went too far in his enthusiastic support of the vulture funds that he was repeatedly slapped on appeal.
    “Griesa...entered judgment against Argentina for $2.2 billion...in 2010, the 2nd Circuit reversed.”
    “Griesa entered judgment again, this time for $700 million, but the 2nd Circuit reversed once more...”
    “Griesa in 2014 modified the class definition to encompass all holders of outstanding bonds, as the plaintiffs originally wanted...”
    The last one:
    ”The 2nd U.S. Circuit (ruled) Griesa had improperly expanded a class of bondholders.”
    And on and on. But Argentina is not an easy prey, as were Zambia, Congo and Peru.
    Stop the vultures.
    http://jubileedebt.org.uk/campaigns/stop-vulture-funds

    Aug 11th, 2015 - 04:19 pm - Link - Report abuse 0
  • argfellow

    @ 2 “whilst all around them the building burns...”

    Specially in the United Nations...

    Aug 11th, 2015 - 04:26 pm - Link - Report abuse 0
  • golfcronie

    Still thieving bastards though, whichever spin you put on it. Pay the money you owe. Have you tried to borrow money from a bank and refused to pay it , you should try it , you thieving bastards.

    Aug 11th, 2015 - 04:28 pm - Link - Report abuse 0
  • yankeeboy

    Singer is crushing Argentina if people dont realize it its because they're stupid.

    Aug 11th, 2015 - 05:21 pm - Link - Report abuse 0
  • Brasileiro

    Argentina has very lucky to have driven out these speculators from its territory.

    https://www.youtube.com/watch?v=nR4ghHVT9HQ&list=FLmXPTu1f8AdGlizWNiASx2A&index=3

    Aug 11th, 2015 - 11:31 pm - Link - Report abuse 0
  • Enrique Massot

    #10 Brasileiro
    Very right. These parasites of the international finances are nobody's friends and should be outlawed, which the United Nations may decide to do.
    ”Vulture fund litigation not only prevents heavily indebted poor countries from using resources freed up by debt relief (and) complicates debt restructuring processes.” (U.N.-commissioned Independent Expert Juan Pablo Bohoslavsky).
    http://www.ohchr.org/EN/Issues/Development/IEDebt/Pages/ViewsIEConventiontoregulatedebt.aspx

    Aug 12th, 2015 - 07:20 pm - Link - Report abuse 0
  • yankeeboy

    11. The UN can't outlaw anything.
    Gads you're retarded.

    Aug 12th, 2015 - 07:35 pm - Link - Report abuse 0
  • Enrique Massot

    12
    Wait and see.

    Aug 13th, 2015 - 06:17 am - Link - Report abuse 0
  • yankeeboy

    13. Clearly you have no idea of how the law works. The USA doesn't recognize Int'l law so anything the UN does or does not do is irrelevant to our jurisdiction.

    Gads it must be depressing to be old and dumb.

    Aug 13th, 2015 - 01:34 pm - Link - Report abuse 0

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