Tag: Bank of New York Mellon

• Thursday, October 23rd 2014 - 05:57 UTC

  US Appeals court sends Argentina back to Judge Griesa on BONY's case

  

  A U.S. appeals court on Wednesday dismissed the Argentine government's appeal of an order directing Bank of New York Mellon Corp to hold onto 539 million dollars the country deposited for its restructured bondholders.

• Tuesday, October 7th 2014 - 05:46 UTC

  “Blue” dollar in Argentina further plummets as market waits for new rules

  

  The US 'blue' or informal dollar plunged 35 cents at the end of trading on Monday in Argentina to 14.95 Pesos after dropping another 20 cents last Friday, amid uncertainty about the new Central bank authorities policies and what is anticipated will be tighter controls on 'illegal' trading.

• Tuesday, October 7th 2014 - 00:43 UTC

  Griesa orders Argentina to reinstate BoNY as trustee for bondholders' payments

  

  US Judge Thomas Griesa has ordered Argentina to reinstate the Bank of New York Mellon (BoNY) as trustee for bondholders payments and “reverse the steps taken” with the approval of the so-called Sovereign Payment law that replaced it with the country's Nacion Fideicomisos.

• Tuesday, September 30th 2014 - 07:00 UTC

  Cristina Fernandez claims US is responsible for Judge Griesa's decision

  

  President Cristina Fernandez said US Judge Thomas Griesa decision to declare Argentina 'in contempt of court' in the dispute with speculative funds, was in violation of international law, the UN chart and the OAS (Organization of American States) chart.

• Tuesday, September 30th 2014 - 05:11 UTC

  Argentine reserves below 28bn dollars; bonds payments of 170m on Tuesday

  

  The informal of “blue” dollar in Argentina fell back 15 cents to 15.55 Pesos after it skyrocketed 75 cents last week and scraping 16 Pesos. The formal US dollar meantime advanced three cents to 8.49 Pesos at the end of trading in Buenos Aires City banks and foreign exchange offices. The gap between the two rates dropped to 83.9%.

• Friday, August 29th 2014 - 05:56 UTC

  Argentina will only negotiate with all bondholders: no more piecemeal debt talks

  

  Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group.

• Wednesday, August 27th 2014 - 06:42 UTC

  Singer recruits former Secretary of State Albright for its dispute with Argentina

  

  Billionaire Paul Singer, founder and CEO of hedge fund Elliott Management Corporation has picked up some major political muscle to press his case in the long-running debt battle with Argentina, reports the New York Post.

• Wednesday, August 27th 2014 - 06:33 UTC

  Argentina revokes BONY authorization to operate and act as trustee

  

  Argentina's Cabinet Chief Jorge Capitanich confirmed that the country's Office of the Superintendent of Financial and Exchange Institutions has revoked the authorization for the bank of New York Mellon to operate in Argentina.

• Tuesday, August 26th 2014 - 06:42 UTC

  Soros group and others file lawsuit against BONY over payments in Euros

  

  A group of hedge funds, including George Soros’s Quantum Partners and J. Kyle Bass’s Hayman Capital, is seeking a 226 million Euro interest payment on Argentine bonds from Bank of New York Mellon, BONY, that was blocked by a United States judge last month.

• Friday, August 22nd 2014 - 08:20 UTC

  Nobel Prize Stiglitz sides with Argentina in reopening the debt swap

  

  In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.