Tag: holdout hedge funds

• 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.

• Saturday, August 9th 2014 - 07:34 UTC

  Griesa warns Argentina with 'contempt' if it continues with “false and deceiving statements”

  

  New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank.

• 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.

• Tuesday, August 5th 2014 - 06:54 UTC

  Griesa praises Pollack's 'great skill” and reveals he directed the use of 'default'

  

  U.S. District Judge Thomas Griesa on Monday turned back an effort by Argentina's government to remove the court-appointed mediator in the dispute with creditors that triggered a 'selective default' situation by the country last week. He also revealed that the default condition was at his direction and was 'accurate'.

• Monday, August 4th 2014 - 07:34 UTC

  Debt ruling shows a callous disregard to the effects on Argentina

  

  By Eileen Appelbaum (The New York Times) - There is no way to construe as fair the United States court ruling that Argentina cannot pay 93% of its creditors, unless it first pays a small group of hedge funds. It's not fair to the 93% of bondholders who negotiated a restructuring of Argentina’s debt in 2005 and 2010 with reduced payments.

• Saturday, August 2nd 2014 - 09:08 UTC

  IDSA decides that Argentina “failed to pay” and thus declares it has defaulted

  

  The International Swaps and Derivatives Association (ISDA) on Friday declared Argentina in default, which could trigger payments worth up to one billion dollars on credit default swaps.

• Saturday, August 2nd 2014 - 08:58 UTC

  Argentina suggests Griesa and Pollack are actively helping holdouts by declaring a 'default'

  

  The Argentine Economy Ministry claimed on Friday New York judge Thomas Griesa has benefited “vulture funds” during negotiations over Argentina's defaulted debt with holdouts and asked the (Argentine) National Values Commission (CNV) to start an investigation over alleged “speculative moves”.

• Saturday, August 2nd 2014 - 04:08 UTC

  Griesa orders Argentina/holdouts to resume negotiations and an end to 'misleading information'

  

  US District Judge Thomas Griesa presiding over Argentina's bitter dispute with two hedge funds left the country stranded in default on Friday, ordering it to hold new negotiations and calling for an end to “mistrust”. In a stern tone Griesa slammed the decision by Argentina to defy his order that it pay in full holdout investors and instead opted to default on 29 billion dollars in debt.

• Friday, August 1st 2014 - 08:57 UTC

  Hedge fund Aurelius denies any serious proposition to buy its holdout bonds

  

  Aurelius Capital Management has shot down speculation that the hedge fund was fielding a viable private-sector proposal for selling its untendered Argentine sovereign debt in a bid to shorten the amount of time Argentina is in default.