Tag: holdout hedge funds

Saturday, June 6th 2015 - 08:00 UTC
Argentine debt climbed 5.4bn of Friday following Griesa's ruling favoring 'me too' bond holders

Argentina must pay US$5.4 billion to more than 500 “me-too” holders of defaulted debt before it can pay the majority of its creditors, a US judge ruled on Friday. Argentina anticipated it would appeal the ruling.
Tuesday, June 2nd 2015 - 05:32 UTC
Argentina states 'lack of confidence' in mediator Pollack named by Judge Griesa

The Argentine government has turned down a plea from mediator Daniel Pollack to return to the negotiating table with holdout investors, with the Economy Ministry considering that talks with the speculative funds, so-called 'vulture funds', would be inappropriate given the behavior of the litigants.
Tuesday, April 7th 2015 - 05:55 UTC
Argentine regulators inspect Citibank, following dispute over accord with hedge funds

Argentina’s central bank sent regulators to inspect Citibank's headquarters in Buenos Aires on Monday after the head of the branch was suspended amid a legal battle over Argentina's debt. Regulators are working to verify whether the bank was able to maintain normal operations following CEO Gabriel Ribisich's suspension last week, the government news agency Telam said.
Wednesday, February 25th 2015 - 05:27 UTC
Argentina will appeal on Thursday Judge Griesa's 'contempt of court'

The Argentine government will present on Thursday its appellant’s brief over the contempt of court ordered by New York Judge Thomas Griesa, the Economy Ministry has confirmed. Griesa had ruled Argentina in contempt of his orders due to working on a plan to shift control over payments of its restructured debt to Buenos Aires.
Thursday, February 12th 2015 - 06:02 UTC
Holdouts open new front in dispute with Argentina: officials dramatic increase in their personal wealth

US holders of defaulted Argentine bonds have stepped up their campaign for full repayment of their loans by detailing how 14 senior Argentine officials experienced “dramatic and often unexplained increases” in their personal wealth during service in the Kirchner administrations.
Wednesday, December 17th 2014 - 13:11 UTC
US Court of Appeals will hear Argentine case on assets disclosure

US Court of Appeals for the Second Circuit in Manhattan this Wednesday morning will hear Argentina’s appeal against US Judge Thomas Griesa’s order to Argentine banks to provide information on the state’s assets.
Thursday, December 11th 2014 - 11:29 UTC
Argentine argues before NY Appeals court the central bank is not an 'alter ego' of the administration

Lawyers representing the Argentine government and the Central Bank have defended the country's stance on the debt conflict in a hearing with the New York Second Circuit Appeals Court, rejecting the notion that holdout investors could confiscate reserves or assets belonging to the financial entity.
Wednesday, December 10th 2014 - 08:19 UTC
Summit supports Argentina in its struggle with bond holders

The two-day summit of Ibero American leaders meeting in Mexico, besides the traditional declaration, also put out a special statement in support of Argentina and its ongoing struggle with speculative funds.
Saturday, December 6th 2014 - 00:30 UTC
Argentina offers advance payment of 2015 maturing bonds to head off speculation

Argentina's government offered this week to make full early payment on a local dollar-denominated bond to head off speculation that its legal battle with U.S. hedge funds will make it unable to service its debt.
Tuesday, November 18th 2014 - 07:59 UTC
German bondholders join the “me-too club” demanding payment of Argentine bonds

Demands against Argentina by so-called “me-too” bondholders, who are asking to be paid in the same conditions as Elliot and Aurelius Managment holdouts, are starting to pile up as holders of Argentine bonds issued under German law who didn’t take part of the country’s debt swap filed a new complaint at a United States court to demand full payment.