MercoPress. South Atlantic News Agency
Special Master announces settlement of 15-year battle between Argentina and 'holdout' hedge funds
Daniel A. Pollack, Special Master appointed to preside over settlement negotiations between the Republic of Argentina and its “Holdout” Bondholders, this morning (29 February) issued the following statement: Read full article
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Disclaimer & comment rulesLaughing so hard right now!
Mar 01st, 2016 - 08:18 am - Link - Report abuse 0All Yankeeboy's predictions regarding this and Singer still took a haircut.
Well glad it's over. Argentina hasn't 'collapsed'.
At last.
Mar 01st, 2016 - 10:32 am - Link - Report abuse 0Maybe...just maybe, we are becoming adults who can´t rant and whine and go around accusing the rest of the world as responsible for all our self-caused troubles.
If only the same approach was made towards the Falklands ... we would get a ticket to get back to the world.
I´ll hold my breath a little more.
@2
Mar 01st, 2016 - 01:14 pm - Link - Report abuse 0Why?
Only the Anglo has the right to the above attitude? They do it all the time.
“It's the immigrants fault!”
“It's the Arabs fault!”
“It's the Jews fault!”
“It's the EU's fault!”
“It's Mexico's fault!”
“It's the Chinese fault!”
“It's the Russians fault!”
“It's the Germans fault!”
“It's the French fault!”
“It's the Pakis fault!”
Why can they do it and we can't?
@1 “ Well glad it's over.”
Mar 01st, 2016 - 01:44 pm - Link - Report abuse 0It isn't over. In fact it's a long ways from being over.
As soon as the principals are paid we can start the clock on the next default.
Good deal all around.
Mar 01st, 2016 - 01:45 pm - Link - Report abuse 0Singer got 100% principal, interest, most penalties, most legal fees.
It shows the USA courts still have teeth and that if you go against them your country will starve.
Good for them!
Now let's see if Argentina holds up their end of the bargain.
That's a big IF
@5 “ Singer got 100% principal, interest, most penalties, most legal fees.”
Mar 01st, 2016 - 02:19 pm - Link - Report abuse 0Huh?
If I am not mistaken it came out this way
- 100 percent of bond capital value
- 40 percent haircut on interest
-full payment of legal fees for the top four litigants, something Argentina would not agree to in the initial negotiations through Pollack, a concession on the part of the Prat-Gay side.
It's estimated that if Argentina can come up with the cash by 14 April that the bill to settle may be somewhere on the order of US$15 billion.
All depends on where you put the numbers.
Mar 01st, 2016 - 02:35 pm - Link - Report abuse 0Numbers are such tricky things
You can make them anything you want
According to Bloomberg :
Mar 01st, 2016 - 03:08 pm - Link - Report abuse 0“The accord, which triggered gains today in Argentine bonds, calls for the country to pay $4.65 billion in cash to Singer’s Elliott Management and fellow hedge funds Aurelius Capital Management, Davidson Kempner and Bracebridge Capital, according to a court-appointed mediator. The amount includes $4.4 billion for 75 percent of almost $5.9 billion in principal and interest of claims in New York, as well as $235 million for claims outside that jurisdiction and some of the holdouts’ legal fees, the mediator, Daniel Pollack, told reporters Monday in New York. The nation will raise the funds it needs in overseas bond markets and the agreement will expire April 14, he said.”
http://www.bloomberg.com/news/articles/2016-02-29/argentina-reaches-4-65-billion-deal-with-main-holdouts
Show where it's 100% yankee boy?
Now that the debt is behind him, SInger hates Trump. The latest is that SInger is ready to do to Trump what's he's done to ARgentina......lol
Who would ever have thought that Singer is a social liberal?
OH NOOOOOOO!!!!!
BAhahahahahahahahaha
http://www.bloomberg.com/news/articles/2016-02-29/argentina-reaches-4-65-billion-deal-with-main-holdouts
Don't the Trump rallies look like a Hitler rally? I've never seen so many inbreeds gathered in one location.
Its all on how you report the numbers.
Mar 01st, 2016 - 03:35 pm - Link - Report abuse 0Could be 100% principal, 90% interest, some penalties and legal fees
It's a win win
As Marti says above its not done until the wire clears.
Sounds like the Congress is having problems with the terms
Wouldn't it be funny it they can't legally pay it so they are forced to use BCRA reserves like Cristina did?
Capitan you may want to check Massachusetts Dem to Rep registration change was 20,000 last month.
Not sure why an Argentine is so facinated with US politics.
Doesn't look like you understand it much
The Trump campaign? “ Doesnt look like you understand it much?”
Mar 01st, 2016 - 04:04 pm - Link - Report abuse 0Looking at the jutting chins, heavy jowls and hairy eyebrows of those guys at Trump rallies, it looks like a certain sort of Yank understands it perfectly, the kind that watch Fox Noos! They look and sound like the SA, all that is missing is the brown shirts!
yankee you seem to be caught up in the dem, rep, liberal or conservative thing. It must matter to you more than it matters to me. You're head is a fucking impenetrable wall. You seem to be one of those people lost in numbers and the internet. You don't seem to understand I have and do vote for both republicans and democrats, so whats your fucking point?
Mar 01st, 2016 - 04:18 pm - Link - Report abuse 0You have so much more in common with tobi than you realize. And crazy people, they are always the last to know who the crazy one in the room is.
And the Trump voters here will most likely come from Wmass where the farmers and Nascar people are.
Funny isn't yankee that Singer is now hunting for Trump? Did you ever take your hero Singer as a gay supporter and general social liberal? You just don;t seem to understand....humanity.
So where's yankee boy? What will you name be after Trump get's, not only waxed, but becames the first Presidential candidate who looses for far more than a narrow margin. I really hate with wish for winte......but I can hardly wait for the elections in November.
Get out of the basement yankee boy of off the computer.
@9
Mar 01st, 2016 - 04:24 pm - Link - Report abuse 0Good for you!
So nice to see that Yankeeboy/chronic finally decided to see a decent therapist (court-ordered anger-management maybe?) and get on some decent meds. The new G.H.W.Bush (kinder & gentler) version is much more palatable; although sadly still usually wrong.
Do you think you could get Tobi in on the program?
Apparently it's a very effective program. Now......if either of them will get away from the computer now and then, leave the basement and talk face to face with humans. But, I guess it's a 12 step program and he is on step 2.
Mar 01st, 2016 - 04:32 pm - Link - Report abuse 0But.....he just might break.
So many odd and fantastical theories from a bunch of losers in the sunset years of their lives.
Mar 01st, 2016 - 07:47 pm - Link - Report abuse 0Sad, very very sad.
Different name.....same smoking shit yb. But, there's the yb we hate.
Mar 01st, 2016 - 10:42 pm - Link - Report abuse 0Did they restrict you yankee name yb, forcing you to choice a new one? Mmmmmmm, the exciting life of a blogging troll.
I'm amazed at the speed with which this agreement has been made. Of course, the toughest part - reversing the 'Lock Law' - is yet to come.
Mar 01st, 2016 - 10:54 pm - Link - Report abuse 0Given how much the Peronists have invested in defying the holdouts, I can't see them changing course now.
Many in Congress were threatened to abide by Kitchner. They are still peronists, but not under that thieving lunatic.
Mar 01st, 2016 - 10:57 pm - Link - Report abuse 0@17
Mar 01st, 2016 - 11:01 pm - Link - Report abuse 0Good point.
It's not to say that over night a magical transformation will take place, but I think Macri is putting them on the bed path and I want to see him succeed. I like Argentina, have in law family there so I have a stake. I wish my country can find a path forward.
Mar 02nd, 2016 - 02:28 am - Link - Report abuse 0I hope he succeeds as well.
Mar 02nd, 2016 - 02:48 am - Link - Report abuse 0I think Argentina may have learnt a lesson this time. It is heading towards 2 decades with the effects of the last default and they didn't escape it so easily as they have in the past.
Mar 02nd, 2016 - 07:40 am - Link - Report abuse 0The world is a different place. There are many more countries now able to easily access the bonds market. The cold was is over so there's no need to bolster the 'free world' and Brazil has vaulted over Argentina to become the regional power.
Argentina is finally waking up to it being just another middling country that has no strategic benefit, financially; economically; politically or regionally to anyone that isn't a neighbour.
China, India, Brazil and regional economic blocks like the EU and ASEAN have sucked away opportunities.
Argentina disengaged itself from the world economy as much as possible and the only victim..... was Argentina. Deficits financed by inflation, failing infrastructure, decimated industries and increasing poverty.
Any change will improve things radically.
@21 “ I think Argentina may have learnt a lesson this time.”
Mar 02nd, 2016 - 01:03 pm - Link - Report abuse 0Argentina does not learn lessons. It creates new opportunities to repeat old failures in new ways. Just because the present government comprises a handful of adults who know how to wear ties does not prevent the inevitable next gang of peronistas from undoing the progress and wiping their arses with the curtains. Plenty of experience there. Neither does the tiger easily lose his stripes, nor Argentina its populist babboons.
Meanwhile, Griesa for the time being isn't lifting the injunction, as Prat-Gay had counted on. The court isn't convinced that Argentina will settle decently with the remaining holdout creditors. And Argentina has been presenting fabricated data to the court in NY to try to weasel their way. No, Argentina does not learn lessons.
Whenever someone says “The world has changed” they have absolutely no flipping idea about trends and/or reality.
Mar 02nd, 2016 - 01:44 pm - Link - Report abuse 0I laugh every time I see someone begin a post like that.
The Peso is a problem, they can't seem to get it reigned in no matter how much money they spend to support it.
@23 you meant “reined in” but it doesn't matter.... sort of sounds the same.
Mar 02nd, 2016 - 03:56 pm - Link - Report abuse 0But correct on the AR peso. It's in trouble. The central bank is bleeding millions almost every day now to support it, and it's still creeping for the toilet. Today was the first day in a while showing any sort of relief from that trend. It'll be at 20/dollar before long.
Thanks I rely too much on spell and grammar check and if it doesn't catch it neither do I.
Mar 02nd, 2016 - 04:09 pm - Link - Report abuse 0Technology.
It wants to go to 20 they should let it and get through the pain now while their economy rebalances.
So what it goes to 20!
Mar 03rd, 2016 - 09:44 am - Link - Report abuse 0And then? Will it implode.... collapse..... famine.....
Please regale us with yet another bullshit prediction. A leopard can't change its spots.... you're still a dumbf¥ck Yankeeboy.
The world is changing around you and as an old, scared, white man you can't handle it.
There it is, “the world is changing”
Mar 03rd, 2016 - 10:57 am - Link - Report abuse 0Anyone who thinks that is so stupid its hilarious.
If anything the “world” is going back to the political landscape of the 1950s maybe even pre-WW2.
If you can't see that it means you're too dumb to understand how to read trends.
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