Tag: Rights Upon Future Offers - RUFO

• Thursday, July 24th 2014 - 07:01 UTC

  In defiant speech CFK openly brushes aside any default “because Argentina has paid”

  

  In a defiant speech President Cristina Fernández reiterated on Wednesday that Argentina will “not fall into default” and warned that “they will have to invent a new word” to explain how a country has paid its debt and “someone blocked it”.

• Wednesday, July 23rd 2014 - 06:51 UTC

  Argentina claims Griesa is blocking bondholders money and using 'vulture funds' language

  

  Argentina reacted strongly to Tuesday's events in the New York federal court which denied its stay request, claiming Judge Thomas Griesa “did not solve absolutely any of the issues for which he summoned today's audience”, insisting with his “unbelievable ban” on structured bonds' collecting their payment.

• Wednesday, July 23rd 2014 - 06:42 UTC

  Holdouts want to sit down with Argentina and solve the dispute; 'countdown clock'

  

  Following on Tuesday's audience with Judge Thomas Griesa, NML Capital the leading speculative fund litigating with Argentina, issued a release saying “it is willing to hold a meeting with 'Special Master' Daniel Pollack and Argentina to solve the dispute”.

• Monday, July 21st 2014 - 07:38 UTC

  Ten hectic days await Argentina, and a possible second default in 12 years

  

  Ten hectic days ahead for Argentina since come 30 July and no agreement has been reached at the New York court of Federal Judge Thomas Griesa, (full payment plus accrued interests to holdout speculative funds) the country would be forced to a second default in twelve years with all the political consequences for Cristina Fernandez and Mercosur.

• Tuesday, July 15th 2014 - 07:07 UTC

  Holdouts call on Argentina to settle debt payments and recall 30 July deadline

  

  Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the Argentine government faced a new crisis on July 30 unless it engages in real talks.

• Friday, July 11th 2014 - 06:14 UTC

  Pollack says Argentina, hold-outs and legal representatives will meet on Friday

  

  Special master Daniel Pollack revealed on Thursday he has been talking with holdout funds and Argentine lawyers “on a daily basis”, one day before an Economy Ministry committee travels to New York to meet the mediator in the funds/Argentina litigation case for the second time.

• Monday, July 7th 2014 - 23:09 UTC

  ECLAC sides with Argentina; calls for Collective Action Clause for sovereign debts

  

  The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, has sided with Argentina in the holdout hedge funds litigation arguing on the need to establish an international mechanism that would allow for the resolution of conflicts of interest caused by sovereign defaults:

• Tuesday, July 1st 2014 - 23:57 UTC

  Argentina's Paris Club and Repsol debt deals possible accord path, hint holdout funds

  

  One of the holdout hedge funds involved in the lawsuit against the Argentine government over pending debt from the 2001 bonds default, pointed out on Tuesday that the agreements struck by Argentina with Spanish oil and conglomerate Repsol and the Paris Club are good examples for the basis of an eventual understanding.

• Monday, June 30th 2014 - 05:47 UTC

  OAS Permanent council expected to consider Argentina/hedge funds conflict

  

  The Argentina litigation with holdout hedge funds will have an additional ingredient this Monday when the Organization of American States, OAS, Permanent Council holds an extraordinary session, on a special request from Argentina, to consider a consultation meeting of foreign ministers to address the issue of sovereign debt restructuring.

• Thursday, June 26th 2014 - 00:14 UTC

  Mediator Pollack meets with Argentina and holdouts' solicitors

  

  Mediator Daniel Pollack named by New York Judge Thomas Griesa to try and help reach an understanding in the long running dispute between Argentina and the holdout hedge bond holders, said he had already held meetings with the solicitors from both sides. However he only revealed that discussions will continue until a resolution is reached.