December 17, 2017
Sunday, November 18, 2012

'US already criticized Griesa's ruling in favour of vulture funds,' Argüello

Argentine ambassador to the US Jorge Argüello repeated that the Obama administration has already rejected one of judge Thomas Griesa’s interpretations of the clause involving equal treatment to creditors for considering it “a potential conflict for the world’s financial markets.”

“The US government has already rejected judge Thomas Griesa’s ‘new’ interpretation of the ‘pari passu’ clause when vulture funds sue our nation, since it would result in a potential conflict for the world’s financial markets,” the diplomat said in the fourteenth newsletter that the Argentine Embassy in Washington will send to US politicians on Monday.

Argüello points out that the US government responded to Griesa’s interpretations this year by filing an “Amicus Curiae” in which they warned of the “possible global financial risks that could result of the distorted interpretation of a clause named ‘pari passu’ (equal conditions), found in several instruments of sovereign debt.”

According to the Embassy, “the US affirms that the District Court’s interpretation of the ‘pari passu’ clause deviates from market expectations and is contrary to the US economic policy.”

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Tags:  arguello  griesa  criticize  ruling  us  

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