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October 21, 2014
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S. Court Justice Zaffaroni says Griesa's ruling is 'a judicial scandal'

File photo of Justice Eugenio Zaffaroni.

Supreme Court judge Eugenio Zaffaroni condemned US Federal Judge Thomas Griesa’s ruling on Argentina’s legal battle against its holdout creditors saying it is a “judicial scandal” that reveals that “today, arbitral power is economical and there are no legal instruments to control it”.

“The political power, that of States, is surpassed by oligarchy’s economic power, by tiny groups of people that manipulate as they wish the media and economic powers, lobbying and hiring highly specialized professionals for these maneouvres,” Zaffaroni said in an interview with a local newspaper.

Justice Zaffaroni referred to US Judge Griesa saying he acts as an “omnipotent character, when in truth he is almost a municipal judge”. Despite his criticism, Zaffaroni stressed that the “main character in all this is not Griesa but the US Judiciary, ultimately, the US Supreme Court”.

“This is a judicial scandal,” he said, “if the Argentine Court had done it, we would have been insulted and with reason. They would have said we were an irresponsible bureaucracy”.

“We should analyze the possibility of suing the vulture funds,” Zaffaroni said. “It seems clear, there are proofs, that they are not the original owners of the bonds, that they bought them to interfere or thwart negotiations.”

The Supreme Court minister pointed out that the holdouts acted in bad faith when buying the Argentine bonds. “This is a purchase made with a perverse purpose, intentional, malicious, to sum up, immoral,” he said.

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Tags:  Zaffaroni  vulture funds  Griesa  ruling  scandal  Argentina  





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