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September 22, 2014
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Aurelius: 'Argentine leaders have chosen to be outlaws'

Hedge fund Aurelius Capital Management has slammed Argentina's proposal to change the jurisdiction of restructured debt to Buenos Aires, in a move that the holdout investor called the nation's "latest plan to evade and violate US court orders".

"Argentina's leaders have literally chosen to be outlaws. They have chronically flouted US court orders, lied to our courts, and proclaimed utter disdain for our courts," fired the vulture fund, in a statement released today.

Aurelius, alongside Paul Singer's NML Capital, is one of the plaintiffs in the litigation held against Argentina presided over by judge Thomas Griesa in New York. The justice has repeatedly ruled that until holdout investors are paid, those 93 percent of bondholders who entered restructuring in 2005 and 2010 cannot receive funds.

The hedge fund continued by claiming that it was the Argentine people that were suffering most from the current impasse.

"Mistakes by the Republic's current leaders have already cost the Argentine people far more than what is owed to all so-called holdouts. These officials are now doubling down on an illicit and failed approach, as recommended last May by their US counsel," the missive asserts.

"Contrary to government rhetoric, the only conspiracy that is harming Argentina's economy is composed of the nation's own leaders."
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Tags:  Vulture funds  Argentina  Griesa  negotiation  vulture funds  Aurelius  





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