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Griesa sanctions Argentina for not turning in information on assets

Thursday, August 13th 2015 - 06:45 UTC
Full article 51 comments
Griesa agreed with NML that Argentina should be punished for failing to turn over evidence that the fund wants to use to discover assets. Griesa agreed with NML that Argentina should be punished for failing to turn over evidence that the fund wants to use to discover assets.
The magistrate, who was not looking well, did not say if state-owned oil company YPF, ENARSA or Central Bank could be considered as “alter egos” The magistrate, who was not looking well, did not say if state-owned oil company YPF, ENARSA or Central Bank could be considered as “alter egos”

New York district judge Thomas Griesa has said he will consider all Argentine government assets in the United States, except for diplomatic and military ones, as commercial assets which hedge fund NML Capital could try to seize.

 The new hearing granted by US District Judge Thomas Griesa between the legal representatives of Argentina and so speculative or “vulture” funds on payments started at 3 pm Buenos Aires time, with New York Judge Griesa giving a green light to a request by the Aurelius hedge fund targeting US$1.4 billion in Bonar 2024 bonds.

Griesa agreed with NML that Argentina should be punished for failing to turn over evidence that the fund wants to use to discover assets. NML, seeking to recover on defaulted Argentine debt, is looking for property that isn’t protected by US laws shielding holdings of foreign nations.

The magistrate, who was not looking well and had a bandage covering part of his head, did not say, however, if state-owned oil company YPF, ENARSA or the Central Bank could be considered as “alter egos” and be also seized.

He gave Argentina 10 days to hand out the documents and information demanded by holdout lawyers.

Top Comments

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  • golfcronie

    The noose is tightening.

    Aug 13th, 2015 - 08:08 am 0
  • ChrisR

    Don't you LOVE this guy?

    No matter what TMBOA, Kickitoff and Bogbrush spout, he sees through the crap and gets on with what he knows is the correct decision under American Law, the law the argies knew they had to use to flog the bonds but now wish they hadn't!

    Oh the joy!

    Aug 13th, 2015 - 11:06 am 0
  • yankeeboy

    All Argentine government assets in the U.S., other than diplomatic and military holdings, will be treated as commercial property, a judge said, opening the door for hedge fund NML Capital and other creditors to seek to seize it.
    :)

    Aug 13th, 2015 - 02:17 pm 0
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