July 24, 2014
‘Who will join debt restructuring now?’
Renewal Front’s lawmaker José Ignacio de Mendiguren said the US Supreme Court rejection of Argentina’s appeal in its legal dispute with vulture funds sends a “complicated message to the world” and warned about its negative impact for debt restructuring processes.
“Who will want to join debt restructuring now?,” he asked rhetorically, pointing out the ruling not only affects Argentina, but the world.
The former head of the Argentine Industrial Union (UIA) praised Argentina’s debt restructuring process. “We had the approval of 93 per cent of creditors,” he said, and explained that they were being payed “religiously”.
Mendiguren bashed the so called vulture funds, saying they “take advantage of International Law loopholes” around the globe with “top lawyers”