Argentina still has uphill battle with holdouts: a stay of pari-passu is next round

Wednesday, February 10th 2016 - 07:24 UTC

Full article 6 comments

While investors cheered progress on last week's arduous negotiations in New York between Argentine government officials and litigant investors, the administration of president Mauricio Macri still faces an uphill battle as it works to bring other holdouts on board. Read full article

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yankeeboy
Argentina is close to capitulation.
They need cash flow loans more than Singer needs to be paid

I can't imagine why Griesa would lift the injunction and I think he's got to ask Singer if anyway....

Pay it and move on silly Rgs
pay it and move on
Feb 10th, 2016 - 12:14 pm - Link - Report abuse 0
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Marti Llazo
“ Elliott ...and Aurelius ... have yet to accept the offer.”

Read: They rejected the offer. As predicted. With extreme prejudice.

“ The deal is conditional upon US Judge Griesa lifting the pari passu injunction....”

Prediction: De ninguna manera, José.

In other news: The kirchnerists still control the senate here. Diminished probability of ending the laws that effectively prohibit the payment of even the rejected offer. Kirchnerism needs to see Macri fail at this. A perfect storm.

A fin de cuentas: Still far from any resolution. And after all the insults and crap that the thousands of holdout creditors have taken for all these years, there are likely more than a few taking some satisfaction from watching Argentistan twist in the wind.
Feb 10th, 2016 - 12:40 pm - Link - Report abuse 0
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Conqueror
“With a clear offer on the table, a growing chorus of so-called 'me-too' investors holding defaulted debt are also clamoring for payment and complaining they have not been invited to participate in settlement negotiations.”

Then I trust Singer & co are telling them to get knotted. Unless they all want to divvy up their shares of Elliott and Aurelias' costs. Perhaps they could all hand over 25% of their payouts!
Feb 10th, 2016 - 12:55 pm - Link - Report abuse 0
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chronic
Reeeeeeeeeeeeekie!

The day of reckoning is approaching.
Feb 10th, 2016 - 01:26 pm - Link - Report abuse 0
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Enrique Massot
#4 chronic
Of course. Hand on hand, Macri and Singer will make Argentines pay. This was never in doubt. Don't confuse this news with the discovery of the gravitational waves my dear.
Feb 12th, 2016 - 01:51 pm - Link - Report abuse 0
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Marti Llazo
@5 The concept of paying debts appears to be unfamiliar to you, reeky. Or rather, the bizarre possibility of argentos paying argento debt.
Feb 12th, 2016 - 03:25 pm - Link - Report abuse 0
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