Tag: Vulture funds

• Thursday, August 21st 2014 - 08:30 UTC

  Kicillof: “no change of NY jurisdiction, but a change of payment location”

  

  Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

• Thursday, August 21st 2014 - 07:07 UTC

  Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

  

  One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.

• Saturday, August 16th 2014 - 11:32 UTC

  Trust in Argentine reliability has vanished, as a result of the bonds' litigation

  

  Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.

• Saturday, August 16th 2014 - 08:45 UTC

  Global trade union summit condemns actions of vulture funds against Argentina

  

  The International Transport Workers’ Federation passed on Friday a motion condemning the actions of the 'vulture funds' against Argentina and calling ”not to allow the vulture funds to paralyze the debt-restructuring processes of developing countries or prevent states from exercising their right to protect their citizens under international law”, according to a release from the Argentine embassy in London.

• Wednesday, August 13th 2014 - 22:29 UTC

  Majority of Argentines fear consequences of the default and favor continuing negotiations

  

  A majority of the Argentine electorate is pessimistic about the consequences of the 'selective default' on the economy, but considers that negotiations with the 'holdouts' must continue, according to a public opinion poll from Poliarquia which also showed that support for president Cristina Fernandez has fallen during the last month.

• Wednesday, August 13th 2014 - 06:57 UTC

  “Homeland or Vultures” militants rally in support of Cristina Fernandez

  

  Thousands of Argentine pro government activists gathered at the Luna Park stadium in Buenos Aires City, to express their support in favor of President Cristina Fernández stand against the so called holdouts (or 'vulture funds') as well as her continuity at the head of the Kirchnerite project.

• Monday, August 11th 2014 - 01:54 UTC

  Argentina/holdouts, a clash between 'global financial power and political power'

  

  A Judge from Argentina's Supreme Court joined the ongoing battle in New York between the Argentine government and the holdouts and slashed out at the US Supreme Court for rejecting to take the case back in June. Eugenio Zaffaroni argued that the conflict must be addressed in the context of “attacks from the global financial power on political power”.

• 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.

• Friday, August 8th 2014 - 08:57 UTC

  Argentina urges Obama to intercede in holdouts case: Griesa is 'interfering with US foreign policy'

  

  Argentine President Cristina Fernández on Thursday urged US President Barack Obama to intercede in the dispute between Argentina and holdouts over Argentine debt, while blasting New York judge Thomas Griesa for “not making any sense”.