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
Comments
Disclaimer & comment rulesRightly or wrongly,
Aug 11th, 2015 - 09:50 am - Link - Report abuse 0Argentina should just pay its debts.
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.
Aug 11th, 2015 - 10:51 am - Link - Report abuse 0Argentina 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.
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....it's one of Yankeeboy's predictions....I reckon...;-))))
Aug 11th, 2015 - 12:15 pm - Link - Report abuse 0Nah I had no opinion. Its irrelevant to the larger case.
Aug 11th, 2015 - 01:47 pm - Link - Report abuse 0The 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.
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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.
Aug 11th, 2015 - 04:19 pm - Link - Report abuse 0Griesa...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
@ 2 whilst all around them the building burns...
Aug 11th, 2015 - 04:26 pm - Link - Report abuse 0Specially in the United Nations...
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 0Singer is crushing Argentina if people dont realize it its because they're stupid.
Aug 11th, 2015 - 05:21 pm - Link - Report abuse 0Argentina has very lucky to have driven out these speculators from its territory.
Aug 11th, 2015 - 11:31 pm - Link - Report abuse 0https://www.youtube.com/watch?v=nR4ghHVT9HQ&list=FLmXPTu1f8AdGlizWNiASx2A&index=3
#10 Brasileiro
Aug 12th, 2015 - 07:20 pm - Link - Report abuse 0Very 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
11. The UN can't outlaw anything.
Aug 12th, 2015 - 07:35 pm - Link - Report abuse 0Gads you're retarded.
12
Aug 13th, 2015 - 06:17 am - Link - Report abuse 0Wait and see.
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.
Aug 13th, 2015 - 01:34 pm - Link - Report abuse 0Gads it must be depressing to be old and dumb.
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