Elliott Management Corp., a New York-based hedge fund that invested in distressed Argentine government bonds well over a decade ago, will have made a $2.4 billion profit on its wager once this week's settlement is finalized, the Wall Street Journal said.
The court-appointed mediator in a long-running debt dispute pitting Argentina against holdout hedge funds said Wednesday that President-elect Mauricio Macri's incoming administration intended to negotiate a settlement.
Argentine ambassador in London, Alicia Castro was a guest speaker at the Latin America conference held at the TUC headquarters, alongside other well known political and trade union figures.Her speech was met with a standing ovation from an audience of over 500 British attendants, whom she thanked for supporting Argentina on the Malvinas Question and in the litigation with the speculative or 'vulture' funds.
Addressing the UN General Assembly, President Cristina Fernandez accused the United States of 'protecting' a former Argentine intelligence agent, blasted the speculative or 'vulture funds', gave details of the Iran-US-Argentina dealings and to everybody's surprise did not mention a word about the Falkland Islands sovereignty claim.
New York district judge Thomas Griesa has said he will consider all Argentine government assets in the United States, except for diplomatic and military ones, as commercial assets which hedge fund NML Capital could try to seize.
The Argentine Embassy in the United States has launched a website to explain the conflict between Argentina and holdout investors commonly referred to as “vulture funds”. The website explains the origins of the conflict, its history, and provides documents and expert opinions on the subject. Its virtual library has until now over 200 documents and 100 independent sources.
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.
Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.
New York judge Thomas Griesa on Wednesday barred Euroclear, the giant Belgium-based financial clearing and settlement house, from processing any debt payments by Argentina. In the newest step tightening Buenos Aires' avenues for avoiding paying off hedge funds on their bonds, Griesa forbade Euroclear from processing any payments received from any source in respect to Argentine bonds.
The New York Court of Appeals has decided to push back its decision on Argentina for another week, as the Cristina Fernandez administration seeks to overturn the contempt ruling imposed by judge Thomas Griesa in the ongoing conflict against holdout investors.