October 31, 2014
‘Vulture fund’ asks for hearing with Griesa over Argentinean ‘payment violation’
NML Capital has asked NY Judge Thomas Griesa for a hearing to address the violation of his Court’s order, after Economy Minister Axel Kicillof announced the government has made a payment of 1 billion dollars in New York, serving its debt commitments with creditors that accepted the 2005 and 2010 swaps.
“Argentina is taking steps to make payments on the Exchange Bonds as scheduled on June 30, without making ratable payments to plaintiffs, as this Court’s order requires,” the note sent by NML to Griesa reads.
“This is a brazen step in violation of this Court’s orders and it warrants a swift and decisive response,” the Paul Singer owned fund argues.
NML added it has contacted the Bank of New York Mellon, where Argentina made the deposit, to “remind of its obligations under the Court’s orders and Federal Rule.”
“Argentina should be made to show cause why it should not be held in contempt,” it concludes.