October 31, 2014
Results for: debt swap
  • 04/09/2014 | Argentina

    Senate gives green light to new debt swap bill

    The Upper House gave its approval to the government-sponsored bill establishing the local payment of debt swaps and a package of consumer-protection bills that includes controversial amendments to the Anti-Hoarding Law.

  • 04/09/2014 | Argentina

    NML warns of 'contempt, risks' to third parties which enter new debt swap

    By Constanza Heller

    In a teleconference presided over by the head of the American Task Force Argentina (ATFA) Robert Shapiro, NML Capital Senior Legal Counsel Robert A.Cohen told the the firm was 'looking to all activities to recover our assets,” including projects in the resource-rich Vaca Muerta region.

  • 11/09/2014 | Argentina

    CFK signs Sovereign Debt bill: We can pay, we want to pay, we will pay

    President Cristina Fernández de Kirchner has passed into law the Sovereign Debt bill, which changes the payment location of Argentine bondholders and was approved by Congress earlier this morning.

  • 21/08/2014 | Argentina

    European creditors seek removal of RUFO clause

    European investors holding 5.2 billion dollars of restructured Argentine bonds are negotiating the removal of the Rights Upon Future Options (RUFO) clause that the country claims prevents them from negotiating with vulture funds, sources close to the meetings informed today.

  • 25/08/2014 | Argentina

    PRO reiterates rejection of gov't debt swap bill

    PRO party lawmaker Federico Sturzenegger urged the government to “sit with the (US) judge” Thomas Griesa to “honour debt commitments” and reiterated that the center-right bloc will not back in Congress the bill pushed by the Executive to remove the bank of New York Mellon as Argentina’s trustee.

  • 03/09/2014 | Argentina

    Senate was set to approve debt swap, consumer bills

    The Upper House was expected to give its approval to the government’s bill establishing the local payment of debt swaps and a package of consumer-protection bills that includes controversial amendments to the Anti-Hoarding Law around midnight.

  • 31/07/2014 | Argentina

    US interim ambassador in Argentina urges for ‘practical solutions’ with vulture funds

    Kevin Sullivan, US interim ambassador in Argentina affirmed today the country must seek “practical solutions” with the so called vulture funds over defaulted bonds.

  • 15/08/2014 | Argentina

    Holders of Argentina eurobonds appeal US Judge Griesa ruling

    Holders of euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking the country from making payments on their debt, according to a court filing.

  • 21/08/2014 | Argentina

    Stiglitz would have 'recommended' debt swap reopening

    In an interview with Argentina’s daily Ámbito Financiero, Nobel Economics laureate Joseph Stiglitz considered the government’s move to reopen the debt swap a “good call” saying the reopening would “voluntarily" invite bondholders to join the strategy.

  • 29/07/2014 | Argentina

    Euro bondholders request ‘temporary stay’ from Griesa

    A group of bondholders urged US Federal judge Thomas Griesa to apply a “temporary stay” from January 1st until January 15, 2015, or at least a 90 day measure in order to resolve current negotiations and prevent a new default.

  • 29/07/2014 | Argentina

    Argentine banks to deposit guarantee to prevent default

    Summoned through an emergency meeting, the Argentine private banks association (Adeba) held a reunion today in their Buenos Aires City HQ, where they agreed to offer the Government a 250 million dollar guarantee as a preventive measure to avoid a default.

  • 30/07/2014 | Argentina

    Mediator Pollack after meeting with Kicillof and vultures: ‘The issues that divide the parties remain unresolved’

    Daniel Pollack, the mediator appointed by US judge Griesa to resolve the dispute between Argentina and the so called vulture funds, affirmed the parts talked “face to face” for the first time and assured a new meeting will be confirmed during the day.

  • 09/07/2014 | Argentina

    ‘Negotiations are on right track’, Foreign minister Timerman says

    Foreign Minister Héctor Timerman assured today “negotiations with ‘vulture funds’ are on the right track,” in his first reaction since the meeting between Argentina’s representatives and mediator Daniel Pollack, appointed by US Federal judge Thomas Griesa to lead the talks in New York.

  • 10/07/2014 | Argentina

    JP Morgan writes letter to US Judge Griesa, asks for payment to Japanese bondholders

    JP Morgan bank, the entity responsible for the payment to Argentina's Japanese bondholders has sent a letter to US Federal Judge Thomas Griesa, requesting “a clarification” in order to deliver the funds to its creditors.

  • 16/07/2014 | Argentina

    US Judge Griesa calls for new hearing over Argentine debt case

    US District Judge Thomas Griesa in New York today said he would hear arguments on July 22 related to the banks and payment agents caught up in the Argentine sovereign debt case.

  • 25/06/2014 | Argentina

    Mediator Pollack: ‘No agreement yet’ with vulture funds

    Special Master Daniel Pollack, the person appointed by US Judge Thomas Griesa to mediate in negotiations between Argentina and vulture funds, affirmed that “no agreement has been achieved yet.”

  • 27/06/2014 | Argentina

    Gov't acusses US Judge Griesa of ‘abuse of authority’ and ‘attempt to provoke a default’

    In an official press release, the federal government stated US Federal Judge Thomas Griesa attempted to “block the payment for bondholders” and committed an abuse of authority, after cancelling the deposit made to bondholders in a Bank of New York account.

  • 18/06/2014 | Argentina

    Gov’t warns stay suspension ‘makes impossible debt swap payment in New York’

    The Economy Ministry announced today that Argentina will not be able to fulfil with the debt swap payments on June 30, in response to US Appeal Court ruling which suspended a previous injunction measure filed by President Cristina Fernández de Kirchner administration.

  • 20/06/2014 | Argentina

    US Judge Griesa bans Argentina from paying bondholders in BA

    US Federal Judge Thomas Griesa ratified in an official letter that Argentina’s proposal to carry out a debt exchange and pay its bondholders in Buenos Aires represents a “violation of the rulings and procedures.”

  • 25/06/2014 | Argentina

    Kicillof asks for ‘equal conditions’ in negotiations with vulture funds in UN meeting

    Economy Minister, Axel Kicillof addressed today before a United Nations panel in New York, and explained the consequences of Judge Thomas Griesa ruling, while warning the country “could face a technical default” next Monday, if the sentence remains firm.

  • 10/04/2014 | Argentina

    Bondholders denounce 'lack of transparency' by Argentine gov't

    The American Task Force Argentina, an organization which unites several bond holders from Argentina debt in default, questioned today the “lack of transparency” within President Kirchner administration, during a video conference with reporters.

  • 29/04/2014 | Argentina

    Vulture Funds prefer debt negotiation with Scioli, Massa, Macri

    Elliot Management Hedge Fund warned today that President Cristina Fernández de Kirchner's administration refuses to negotiate a solution over debt in default, stating that they would prefer to seek a solution with the head of state's successor in 2015.

  • 18/06/2014 | Argentina

    Elliot Management could accept Argentine bonds follow US Supreme Court rule

    Elliot Management hedge fund, led by financial tycoon Paul Singer, could accept Argentine bonds in order to finish with the judicial dispute between the two parts, following US Supreme Court ruling last Monday.

  • 28/01/2014 | Argentina

    Elliot CEO slams bondholders' 'Bizarre' judicial proposal

    Paul Singer, head of Elliot Management Corp., defined as “bizarre” the bondholders’ offer to resolve judicially the dispute with Argentina over the debt in default from 2001, in a letter sent to investors and published by Bloomberg News.

  • 05/03/2014 | Argentina

    US Gov’t backs Argentina in ‘Vulture Funds’ dispute

    The Obama administration filed an ‘Amicus Curiae’ measure before US Supreme Court, supporting Argentina’s position in the dispute with the so called ‘Vulture Funds’.

  • 21/03/2014 | Argentina

    Brazil, Mexico, France to back Argentina in US Supreme Court

    Brazil, France and Mexico are expected to file papers in the US Supreme Court on Monday backing Argentina in its battle with bondholders that refused to take part in debt restructurings from the country's 2002 default.

  • 20/07/2011 | Argentina

    US court blocks Brady bonds swap

    A bond holder who sued Argentina when the country stopped paying its debt in 2002, received a favorable ruling from a US court, which blocked a debt swap of unpaid Brady bonds for a total amount of 270 million dollars, which were negotiated in 2011.

  • 11/09/2013 | Argentina

    Lower House lawmakers discuss debt swap bill

    Lower House lawmakers today began to discuss the bill to reopen the debt swap for holdout creditors who have refused to settle with Argentina since the 2001 US$100 billion default.

  • 25/01/2014 | Argentina

    Elliot Management's Paul Singer: ‘We could settle this thing in an afternoon’

    During a video interview with the Wall Street Journal, Paul Singer, CEO of hedge fund Elliott Management Corporation, described Argentina’s public policy as “horrendous” and stated that he could settle the dispute “in an afternoon.”

  • 24/02/2012 | World

    Greece launches long-awaited debt swap offer

    Greece formally launched a bond swap offer to private holders of its bonds, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its messy finances back on track.

  • 11/09/2013 | Economy

    Debt swap set for Lower House approval

    The bill to reopen the debt swap for holdout creditors who have refused to settle with Argentina since the 2001 US$100 billion default is set to be passed as law today after it was cleared for debate in a Lower House committee hearing yesterday, at which the Kirchnerite administration’s economic team once again defended the initiative.

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