e3aac2d7934ec99e694c2fd3a5f1f81f061abbd0

Ruling leaves massive debt for next Argentina government

A man walks next to a grafitti depicting US Judge Thomas Griesa and vultures behind bars, outside the National Congress in Buenos Aires on September 10, 2014A new ruling by a US judge has increased the total Argentina owes holdout bondholders to $5.2 billion — a massive responsibility that if upheld likely will fall to the next government, experts said. In a 26-page ruling, US District Court Judge Thomas Griesa concluded Friday that by refusing to make payment to some hedge fund and individual bondholders of its defaulted debt, while making payment to other creditors, Buenos Aires was in violation of an equal treatment provision in its contracts. Griesa in a 2012 ruling sided with a group of hedge funds, led by NML and Aurelius Capital Management, who for years have been trying to force Argentina to pay off $1.3 billion in defaulted bonds they hold.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 5 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article