Tag: Argentina holdout investors

• Wednesday, April 27th 2016 - 10:44 UTC

  Paul Singer praises Macri but warns about negative impact from Collective Action Clauses

  

  Financier Paul Singer again took to the US media to celebrate Argentine President Mauricio Macri’s decision to settle with the so-called “speculative” creditors, including Singer’s own Elliott Management, with an article in the Wall Street Journal heaping praise on his business-friendly approach and willingness to negotiate with the holdouts.

• Saturday, April 23rd 2016 - 10:26 UTC

  Judge Griesa pleased and gratified the Argentine 15-year litigation with bondholders is over

  

  US Federal Judge Thomas said on Friday it gave him the greatest pleasure to be able to exercise his discretion and lift the injunction against Argentina which impeded the payment on defaulted debt.

• Monday, April 18th 2016 - 08:49 UTC

  Argentina returns to money market for US$ 15bn to pay bondholders

  

  Once Argentina pays the holdout funds, US District Judge Thomas Griesa will lift the injunctions against the country, court-appointed mediator Daniel Pollack said, following the appeals court ruling that cleared the way for Argentina to pay its debts.

• Thursday, April 14th 2016 - 05:48 UTC

  US court opens the way for Argentina's return to world money markets

  

  The United States Court of Appeals paved the way on Wednesday for Argentina to raise billions of dollars to pay a group of hedge funds, bringing it one step closer to re-entering international markets for the first time in 15 years. In a ruling from the bench, three judges on the court of appeals upheld a ruling by Judge Thomas Griesa of District Court in Manhattan to lift an injunction that had barred Argentina from paying its creditors and eventually led the country to default in 2014.

• Saturday, April 2nd 2016 - 07:04 UTC

  How hedge funds held Argentina for ransom

  

  By Martin Guzman and Joseph E. Stiglitz (*) - Perhaps the most complex trial in history between a sovereign nation, Argentina, and its bondholders — including a group of United States-based hedge funds — officially came to an end yesterday (March 31) when the Argentine Senate ratified a settlement.

• Wednesday, March 16th 2016 - 17:15 UTC

  Argentine Senate begins consideration of debt 'normalization' bill following approval by Lower House

  

  The administration of president Mauricio Macri overcame a first hurdle in the Argentine congress to have its “debt normalization” bill approved, which should help bring to an end years of litigation with the holdout funds and open access to global money markets in normal conditions.

• Wednesday, March 9th 2016 - 05:35 UTC

  Argentine Lower House clears the way for a floor discussion of accord with holdouts

  

  After rough discussions, Argentina's Lower House committees on Tuesday managed to clear the holdouts bill for debate with changes proposed by the allied Renewal Front and criticism from Victory Front lawmakers.The bill will reach the floor next week. If it passes, it will then be up for debate in the Senate, where the situation is similar, with the ruling Let’s Change needing help from opposition lawmakers to ensure the bill passes.

• Tuesday, March 1st 2016 - 05:05 UTC

  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:

• Wednesday, February 3rd 2016 - 07:23 UTC

  Argentina agrees to pay Italian bond holders including “a reasonable interest”

  

  Argentina announced Tuesday that it reached a $900 million preliminary accord to settle its pending debt with 50,000 Italian holders of defaulted Argentine government bonds. Finance minister Alfonso Prat-Gay said that the agreement with Italian bondholders includes the Argentine government's acknowledgement of the debt “and reasonable interest”.

• Saturday, January 23rd 2016 - 08:01 UTC

  Macri and Obama could meet at the end of March, reestablishing formal bilateral dialogue

  

  Mauricio Macri expects to meet with Barack Obama at the end of next March when the Argentine president attends in Washington the summit on Nuclear Security of which Argentina is a member. The event takes place between 31 March and first April, and if the meeting effectively takes place, it would mean the return of the formal dialogue between the two countries, rather frozen under his predecessor Cristina Fernandez.