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Wednesday, February 27, 2013

Argentina urges 'workable' solution to bondholder fight

Vice-President Amado Boudou and Economy Minister Hernán Lorenzino leaving Court.
Vice-President Amado Boudou and Economy Minister Hernán Lorenzino leaving Court.
Vice-President Amado Boudou and Economy Minister Hernán Lorenzino leaving Court.

Argentina's defence urged a US appeals court today to come up with a "workable" solution to its long-running fight with so-called holdout bondholders, and assured the country will not pay an amount exceeding the one set in the debt-swaps.

"We're trying to persuade the court to do something which is workable and doesn't create a terrible confrontation," the lawyer, Jonathan Blackman, said during oral arguments before the 2nd US Circuit Court of Appeals in New York.

He also said that the country would not "voluntarily obey" an order to pay holdout bondholders in full.

The court is considering a lower court's order that Argentina must pay $1.3 billion to a group of dissident bondholders stemming from the country's 2002 default.

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Tags:  argentina  us  bondholders  swap  new york  court  





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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia