Tag: Rights Upon Future Offers - RUFO

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”.
Friday, August 1st 2014 - 08:33 UTC
US calls on Argentine government to seek 'practical solutions' with holdouts

Kevin Sullivan, US interim ambassador in Argentina affirmed on Thursday that the country must seek “practical solutions” with the 'holdouts' or the so called vulture funds over defaulted bonds.
Thursday, July 31st 2014 - 07:05 UTC
Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors and special mediator Daniel Pollack ended without a settlement on Wednesday.
Thursday, July 31st 2014 - 06:55 UTC
Argentine private banks discussing bond purchase from holdouts

The meeting between Argentine private bank representatives and the 'holdouts' over the debt held by the hedge funds has been adjourned and will be resumed on Thursday, according to Buenos Aires financial daily Ambito.com.
Wednesday, July 30th 2014 - 08:02 UTC
Argentine private banks prepared to buy holdouts' credit; Kicillof/Pollack talks to continue today

“Special Master” Daniel Pollack, the mediator appointed by US judge Griesa to resolve the dispute between Argentina and the speculative funds' holdouts said the parts talked “face to face” for the first time and assured a new meeting will be confirmed during the day. If a deal is not reached Wednesday sunset Argentina could again fall into default.
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.
Tuesday, July 29th 2014 - 05:43 UTC
Some Euro-bond holders willing to waive the RUFO clause, says Bloomberg News

A group of creditors holding about 28% of Argentina's Euro-denominated debt said it would be willing to waive a clause that’s hampering a deal between Argentina and holders of its defaulted bonds from 2001, according to a report by Katia Porzecansky published by Bloomberg News.
Tuesday, July 29th 2014 - 05:35 UTC
“ Argentina Dances With Default”, warns The Wall Street Journal

As Argentina approached the deadline for another default, second in twelve years, the governments of President Cristina Fernandez is trashing a U.S. judge rather than repay creditors, underlines an editorial column from The Wall Street Journal.
Saturday, July 26th 2014 - 06:36 UTC
Argentina/holdouts impasse remains; delegation back to Buenos Aires for instructions.

Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors in New York on Friday in talks that lasted just an hour. The Argentine delegation is flying back to seek instructions from its government, mediator Daniel Pollack said, while the country's economy ministry underscored it would continue the dialogue with him over the next few days.
Friday, July 25th 2014 - 05:14 UTC
Argentina insists on Griesa for some insurance against the RUFO clause

After failing to reach an agreement during Thursday's meeting with court-appointed mediator Daniel Pollack, Argentina reiterated that there could be no negotiations with speculative funds or 'vulture funds' until judge Thomas Griesa provides some insurance against possible liabilities related to the 'Rights upon Future Offers' (RUFO) clause.