Tag: Bank of New York Mellon

• Thursday, August 21st 2014 - 08:30 UTC

  Kicillof: “no change of NY jurisdiction, but a change of payment location”

  

  Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

• Thursday, August 21st 2014 - 07:07 UTC

  Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

  

  One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.

• Thursday, August 21st 2014 - 06:58 UTC

  Italian bondholders' representative supports Argentina decision to change debt's jurisdiction

  

  The Italian legal representative of Argentine bondholders, Tullio Zembo praised the Sovereign Public Debt Payment Law announced by President Cristina Fernandez, saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropriate.”

• Wednesday, August 20th 2014 - 09:22 UTC

  Nervous Cristina skirts New York court and pledges to service swapped bonds in Argentina

  

  President Cristina Fernandez said on Tuesday her government will move to service its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law in order to get around a U.S. court order.

• Saturday, August 9th 2014 - 07:45 UTC

  Despite warning, Kicillof again defies and again accuses Griesa of 'partiality'

  

  Economy ministry Axel Kicillof once again defiantly insisted Argentina has made a required debt payment on restructured sovereign bonds on Friday night, just hours after a U.S. judge threatened a contempt-of-court order if Argentina did not stop issuing such statements.

• Thursday, August 7th 2014 - 07:02 UTC

  Argentina closer to contempt of court as it suggests bondholders to change paymaster

  

  New York district judge Thomas Griesa and the Argentine government are again on the collision course: while the magistrate has ordered the Bank of New York Mellon to retain the funds deposited by Argentina to pay exchange bondholders and declaring the payment “illegal”, the Ministry of Economy in Buenos Aires suggested bondholder should change BONY for a new intermediary institution.

• Wednesday, August 6th 2014 - 08:02 UTC

  Argentina will demand Citibank and BONY to pay exchange bondholders

  

  The Argentine Government will formally demand that Citibank and the Bank of New York Mellon pay exchange bondholders, the Economy Ministry informed on Tuesday in a press release.

• Friday, August 1st 2014 - 07:52 UTC

  Argentine president defies Judge Griesa rulings and mocks 'selective default'

  

  President Cristina Fernández said on Thursday she will not “sign an agreement” that compromises Argentina's future, while blasting “vulture funds” for wanting to “collect Griesa's usurious sentence”, following the Wednesday failure of negotiations between the country and holdouts.

• Tuesday, July 29th 2014 - 06:59 UTC

  Pollack confirms meeting with Argentina on Tuesday, 24 hours before 'D' day

  

  Argentina will sent a negotiation team to New York on Monday for further talks with a US court-appointed mediator Daniel Pollack in its debt dispute with “holdout” investors, Cabinet Chief Jorge Capitanich said earlier, with just two days left to avert a default.

• Thursday, July 17th 2014 - 06:15 UTC

  Judge Griesa to hear arguments from banks caught in Argentina/holdouts case

  

  US District Judge Thomas Griesa in New York said on Wednesday that he would hear arguments on July 22 related to the banks and payment agents caught up in the Argentine sovereign debt litigation with holdout speculative funds.