MercoPress. South Atlantic News Agency
Argentina in pre-accord with toughest hedge funds; Special Master Pollack furious
Argentina and a group of hedge funds are nearing a deal that would pay investors about 70% of what they say they are owed, as the government moves closer to re-entering the global bond markets following its 2001 default. Read full article
Comments
Disclaimer & comment rulesFurious?
Feb 25th, 2016 - 09:17 am - Link - Report abuse 0Seriously!
God could anyone make this extremely minor issue anymore dramatic? As the end draws near, I suppose there is a need to 'create' column inches.
A violation of confidentiality is serious business.
Feb 25th, 2016 - 11:50 am - Link - Report abuse 0Never had a decent job huh?
How would you know? Supposedly you're new to this site!
Feb 25th, 2016 - 01:00 pm - Link - Report abuse 0Loser.
The whole saga isn't playing out like your pathetic predictions.
Nah just from your comment above you can tell nobody has ever given you any type of job that would require trust.
Feb 25th, 2016 - 01:23 pm - Link - Report abuse 0“A violation of confidentiality is serious business.”
Feb 25th, 2016 - 02:34 pm - Link - Report abuse 0Ever listened to a hairdresser?
70%... do I hear 60%? 50% anyone? Done! (you have been)
Feb 25th, 2016 - 09:43 pm - Link - Report abuse 0Skip....new name. New to the site it a stretch. Now that.the debt saga is closing and not the way as predicted by the....“ I am never wrong”, names are changing but hatred remains the same.
Feb 25th, 2016 - 10:16 pm - Link - Report abuse 0How much he must have lost to have a never ending hate like that? Hell.....even US soldiers and former VC shook hands and that was a little higher stakes. Poor guy.....I feel for him.....that hate will be with him to his grave.
Trust coffeeboy?
Feb 25th, 2016 - 11:48 pm - Link - Report abuse 0lol.
I think its funny when a coffeemaker talks to normal people....
Feb 26th, 2016 - 01:11 am - Link - Report abuse 0Its like a dog who can say I love you....
https://www.youtube.com/watch?v=qXo3NFqkaRM
Fred nothing beats your stupidity in using your actually name when you first joined this site.
Feb 26th, 2016 - 03:21 am - Link - Report abuse 0Keep trying to guess my job. It's not important. It's just a job.
But if jobs is how you define someone then you just sell houses. Not exactly rocket science...... here's the bathroom..... here's the kitchen..... oh yes the wall colour is a lovely shade of green..... LOL that's your actual career!
My job is just that, a job. It earns me money to do what I love. Chronic, typing while kissing butt.... Im impressed by your dexterity.
No matter what I do, running rings around you morons isn't exactly difficult.
You're not running rings around anyone.
Feb 26th, 2016 - 03:08 pm - Link - Report abuse 0You're really quite stupid.
Blinded by the ignorant pc mentality of someone who's never had a real job.
I don't know who you think I am but the only thing I sell is advice.
It isn't over til it's over. And as of today it's still far from over:
Feb 28th, 2016 - 02:24 am - Link - Report abuse 0---------------
NEW YORK, Feb. 26, 2016 /PRNewswire/ -- Daniel A. Pollack, Special Master presiding over the settlement negotiations between the Republic of Argentina and its Bondholders, issued the following statement today:
“Intensive discussions are continuing between the Republic of Argentina and major ”holdout“ Bondholders, including NML Capital Ltd., under my supervision. No Agreement in Principle has been reached or signed as yet, but progress has been made. All concerned are working diligently. Senior-most officials for the Republic and principals for the hedge funds are personally involved. I will have no further comment on this situation today.”
SOURCE Daniel A. Pollack
The agreement would pay funds managed by Elliott Management, Aurelius Capital, Davidson Kempner and Bracebridge Capital, 75 percent of their full judgments including principal and interest plus certain legal fees.
Feb 29th, 2016 - 04:40 pm - Link - Report abuse 0Good News all around and great precedent set in the USA for serial defaulters.
I seem to recall posts stating they will get 100%. Before your tenure T Paine. (Smirk)
Feb 29th, 2016 - 07:43 pm - Link - Report abuse 0According to a local Argentine abogado who has been following this with me, an “agreement in principle” (or multiple independent agreements in principal) is/are all that has been achieved and under present law here these have no legal weight. Perhaps they do where Pollack is working. And even Pollack isn't saying this has been resolved, only that it's “on its way” to being resolved, which is what he could have said two months ago.
Feb 29th, 2016 - 08:08 pm - Link - Report abuse 0To make this work, among other things Argentina evidently has to come up with US$4.65 billion in real cash dollars by 14 April. That's easy for you and me but maybe not for Argentina.
And the legal fees and penalties that Argentina has to pay could keep us all in bife chorizo for the next 4000 years.
The laws in Argentina forbidding the payment of this debt still have not been changed, and Argentina has no money to make the payments even if they were, so there is still some history to be seen. Not that an eventual solution isn't possible, but it's not over yet. And the next Argentine default is still right around the corner, which is no doubt why getting the big cash payment is a good idea.
It was a good precendent.
Feb 29th, 2016 - 09:03 pm - Link - Report abuse 0Gotta pay regardless
or your people starve
As it should be
Oh, and if Argentistan doesn't come up with US$4.653 billion in cash in the hands of certain creditors before 14 April, the deal is off and penalties to the offending country apply. Along with starting over.
Feb 29th, 2016 - 09:16 pm - Link - Report abuse 0Singer's people actually ended up getting slightly better conditions in the last couple of days of negotiations.
So, what's the chance? Hint: Argentina is involved.
US5 Billion isn't very much money and its 6 weeks away.
Feb 29th, 2016 - 09:36 pm - Link - Report abuse 0It was a good deal all around.
Singer added to his vast fortune and showed that the US Courts still have teeth.
Win win
Singer hasn't added anything yet. All of this could still go wonky.
Mar 01st, 2016 - 12:43 am - Link - Report abuse 0Commenting for this story is now closed.
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