Tuesday
September 16, 2014
Results for: vulture funds
  • 10/09/2014 | Argentina

    Kicillof says UN debt restructuring resolution 'historic,' telling vulture funds 'no more'

    Following the UN General Assembly voting of a legal framework for countries’ debt restructurings, Economy Minister Axel Kicillof considered Tuesday’s a “historic” move that will stop “three millionaires putting at risk the life of 40 million people.”

  • 11/09/2014 | Argentina

    Vulture funds reach BA province classrooms

    The Buenos Aires province Senate has approved a bill pushed by Victory Front’s lawmaker Patricio García to take the country’s battle against vulture funds to the province’s classrooms. “Our youth deserve to understand what is being discussed,” García said.

  • 11/09/2014 | Argentina

    'We have put future credibility at stake'

    Among opposition voices condemning the approval of a new payment plan challenging vulture funds suing the country over its defaulted bonds, was PRO party lawmaker Federico Sturzenegger who considered Argentina’s “credibility” has been put at risk.

  • 09/09/2014 | Argentina

    Lower House committee clears debt restructuring bill for debate

    Lower House committees have approved the Sovereign Payment bill for debate tomorrow, after hearing government official’s defense of the project that seeks to open a new debt swap with local “Nación Fideicomisos” as trustee.

  • 09/09/2014 | Argentina

    UN assembly approves creation of debt restructuring framework

    The United Nations has voted overwhelmingly in favour of a legal framework that would help regulate restructuring of foreign sovereign debt, a project that was suggested by the Argentine government and presented before the assembly by the Group of 77.

  • 10/09/2014 | Argentina

    Griesa holds off on Citi subpoena in vulture case

    US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.

  • 04/09/2014 | Argentina

    CFK blames vulture funds for mudslinging

    President Cristina Fernández de Kirchner assured the so called vulture funds led a negative campaign in order to harm her public image, following a picture released by the "Arabi Press" website.

  • 06/09/2014 | Argentina

    'Opposition defends interests that are not those of the people'

    Following a meeting of pro-government groups that took place in the BA province capital city of La Plata, Capitanich was queried about the position of political leaders who have publicly suggested the Kirchner administration should pay vulture funds in full as demanded by US Judge Thomas Griesa.

  • 07/09/2014 | Argentina

    Wikileaks founder Assange claims US supports 'vulture funds' in dispute with Argentina

    Wikileaks founder Julian Assange has alleged that the United States is supporting holdout investors in their dispute with Argentina over debt defaulted in 2001, as a way of punishing the country for the memorandum of understanding signed with Iran to advance investigations into the AMIA bombing.

  • 03/09/2014 | Argentina

    Pignanelli says Uruguay 'trustworthy' option to pay Argentine bonds

    Former chairman of the Central Bank Aldo Pignanelli considered neighboring Uruguay could be a “trustworthy” option for Argentina to issue sovereign bonds and pay creditors.

  • 03/09/2014 | Argentina

    'Vulture funds row will not affect Chinese investments in Argentina'

    The current legal dispute between Argentina and so called “vulture funds” suing the country over its defaulted bonds “will not affect” planned Chinese investments here, the head of the National Commission of Development and Reform (CNDR) of China has warned.

  • 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.

  • 31/08/2014 | Argentina

    Germany's Finance Minister: 'Argentina an example of lack of solidity'

    Germany’s Finance Minister Wolfgang Schäuble slammed Argentina’s stance against its holdout creditors saying it has been -and continues to be- “an example of lack of solidity.”

  • 01/09/2014 | Argentina

    Capitanich insists on stay claim

    Cabinet Chief Jorge Capitanich reiterated Argentina’s demand for a stay to US Judge Thomas Griesa in the dispute against its holdout creditors. “When we think of a simple, easy solution, it is up to Judge Griesa. It is to issue a stay until the first trimester of 2015,” he stated.

  • 02/09/2014 | Argentina

    Gov't to add France as payment location in external debt bill

    The proposed bill to change the location of Argentine external debt payments will undergo a last-minute alteration, as government officials plan to add France as an alternative site for bond jurisdictions along with Buenos Aires.

  • 29/08/2014 | Argentina

    After Argentina row with vultures, ICMA revises rules for sovereign defaults

    Banks, investors and other users of bond markets have agreed to change how they would deal with defaulting debt, removing holdouts' veto right to avoid a repetition of the fracas over Argentina.

  • 29/08/2014 | Argentina

    Argentina to present debt restructuring regulation project before UN

    Economy Minister Axel Kicillof and Foreign Minister Héctor Timerman have announced Argentina will present on September 9 a project before the United Nations aimed at regulating international debt restructurings and avoiding “vulture funds’ attack on sovereign nations.”

  • 31/08/2014 | Argentina

    'Social development cannot be jeopardised by the extorsion of tiny group of financiers'

    Foreign Minister Héctor Timerman referred to Argentina’s plan to regulate international debt restructurings, to be presented on Tuesday before the UN's General Assembly, and stressed the importance of the project saying that “the legal loophole is huge” and that it affects “most of the countries in the world.”

  • 27/08/2014 | Argentina

    Capitanich: 'Argentina is under speculative attack'

    After the US dollar informal rate broke a new record yesterday, advancing 22 cents to 14.20 pesos, the cabinet chief accused vulture funds of “speculative attacks against the (peso) currency” to “systematically erode the government’s credibility and trust.”

  • 27/08/2014 | Argentina

    Senate committees approve debt swap bill

    The proposed law to declare as of public interest the 2005 and 2010 debt restructurings and sovereign payments has obtained approval from a plenary of Senate committees, and will be debated before the Upper House on September 3.

  • 28/08/2014 | Argentina

    'They seek a devaluation that is obviously not going to happen'

    After the informal rate hit a new record mark of 14.38 pesos yesterday, cabinet chief Jorge Capitanich dennounced “continous speculative attacks” from vulture funds that operate in the parallel market “seeking to cause a devaluation that is obviously not going to happen.”

  • 25/08/2014 | Argentina

    Gov't defends new debt swap plan: 'BoNY has breached contract'

    Cabinet Chief Jorge Capitanich defended the Executive’s plan to replace the bank of New York Mellon (BoNY) as trustee of Argentina’s restructured bonds saying it has “breached the trust agreement.”

  • 25/08/2014 | Argentina

    Capitanich bashes opposition unions, lawmakers for being 'vulture funds' advocates'

    Ahead of a transport strike announced for Thursday by anti-government CGT splinter, and as the Congresss gets ready to tackle a set of economic measures submitted by the Executive, the chief of ministers bashed opposition unions and lawmakers saying they are “advocates and instruments of the vulture funds.”

  • 26/08/2014 | Argentina

    Gov’t officials to brief lawmakers on swap bill

    Cabinet Chief Jorge Capitanich defended once again the Executive’s bill to be discussed in Congress this week that seeks to open a new debt swap with local Nación Fideicomisos as trustee, and announced that Economy Minister Axel Kicillof, Treasury Attorney Angelina Abbona and Legal and Technical Secretary Carlos Zanini will brief lawmakers tomorrow on the details of the “Sovereign Payment” bill.

  • 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.

  • 22/08/2014 | Argentina

    'Rulings must be complied with in Argentina, everywhere'

    With the government just defying a ruling by US Judge Thomas Griesa moving to push in Congress for a change in jurisdiction to allow bondholders to collect their money in Argentina, Lorenzetti considered the country faces a “very difficult situation.”

  • 24/08/2014 | Argentina

    Fintech Advisory fund welcomes new debt swap under Argentine law

    Fintech Advisory hedge fund head David Martínez Guzmán has said the fund is willing to accept the new debt swap proposed by the Argentine government in order to “isolate (US) judge Thomas Griesa and vulture funds, and resume the chain of payment arbitrarily interrupted.”

  • 20/08/2014 | Argentina

    CFK: Those who invested in stocks earned more than with dollar

    President Kirchner emphasized the need to amplify “the local financial market so we will not depend on foreign fluctuations,” during the celebration of Buenos Aires Stock Market 160th anniversary.

  • 21/08/2014 | Argentina

    Gov't calls holdouts to accept new swap for 'certain' payment chances

    Cabinet Chief Jorge Capitanich reiterated that the bill pushed by the Executive “is not about a change of jurisdiction but of venue” and pledged that bondholders who voluntary accept the new swap will have “clear, certain” chances to receive payment.

  • 21/08/2014 | Argentina

    'Macri more in tune with vultures, Griesa than with Argentina’s interests'

    The cabinet chief bashed Buenos Aires City Mayor Mauricio Macri for his remarks against the national government’s plan to reopen the debt swap, replacing the Bank of New York Mellon with local Banco Nación as trustee.

  • 20/08/2014 | Argentina

    'We should be asking Griesa for BoNY deposits'

    Cabinet Chief Jorge Capitanich stressed that by changing the debt’s jurisdiction to Buenos Aires the government seeks to protect restructured bondholders and pointed out that the fate of the u$s 539 millions deposited to restructured creditors in a Bank of New York (BoNY) account is to be determined by US District Judge Thomas Griesa, who has frozen the assets.

  • 20/08/2014 | Argentina

    Scioli supports debt payment bill, says VFs 'ravaged' Argentina

    Buenos Aires province Governor Daniel Scioli has called for “gretaness” of all political sectors to debate the government-sponsored project that aims at removing the Bank of New York Mellon as agent payment, in a move to guarantee future payments to Argentina’s bondholders that agreed to enter the country’s 2005 and 2010 restructurings.

  • 20/08/2014 | Argentina

    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".

  • 16/08/2014 | Argentina

    Vanoli: Gov't in pursue of 'key' to 'unstick' vulture funds conflict

    The head of the CNV securities regulator considered Argentina’s current legal fight against so called “vulture funds” will end with the “interests” of both the country and investors being “preserved.” A “key” to 'unstick' the conflict is being pursued, the official said.

  • 19/08/2014 | Argentina

    Gov’t says the US has not confirmed whether it accepts ICJ's jurisdiction

    Cabinet Chief Jorge Capitanich, Foreign Minister Héctor Timerman and Ministry of Foreign Affairs Legal Adviser Susana Ruiz Cerrutti were addressing reporters this morning to discuss Argentina’s legal action against the US at the Hague over its dispute with holdout hedge funds.

  • 20/08/2014 | Argentina

    Gov't says 'contempt ruling' inapplicable to Argentina

    Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following President Kirchner’s decision to push a bill to change the payment jurisdiction to Buenos Aires, the cabinet chief pointed out that as a “sovereign country” Argentina cannot end up in contempt.

  • 14/08/2014 | Argentina

    CFK inaugurates housing program extension

    President Cristina Fernández de Kirchner launched a series of housing programs in several provinces during an act broadcasted from the Women's Salon at Government House, City of Buenos Aires.

  • 14/08/2014 | Argentina

    CFK links Donnelley with vultures, seeks to apply anti-terrorism laws

    President Cristina Fernández has instructed the application of the anti-terrorist law for the first time against Donnelley, a printing company allegedly funded by a number of so-called vulture funds linked to Elliott Management head Paul Singer.

  • 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.

  • 13/08/2014 | Argentina

    Gov’t says ‘acceleration’ on restructured bonds not possible

    Cabinet Chief Jorge Capitanich rejected the possibility raised last week by Argentina’s holdout investors to declare principal and interest immediately due, a move known as acceleration, saying the conditions for it have not been met.

  • 13/08/2014 | Argentina

    CFK in Paraguay: 'We are here for an historical recognition'

    President Cristina Fernández de Kirchner arrived in Paraguay to return the furniture and other belongings of one of the country’s most revered leaders, Francisco Solano López, seized by Buenos Aires 150 years ago.

  • 14/08/2014 | Argentina

    Gov’t says Aurelius makes 'irrational threats', vulture funds are 'int'l mobsters'

    In response to Aurelius Capital Management claims that “the worst is yet to come” for Argentina, Cabinet Chief Jorge Capitanich said that those threats are “emtpy and irrational” and described the holdouts as “voracious groups that make up an international mob”.

  • 07/08/2014 | Argentina

    Bond dispute: US judge Griesa to hold new hearing tomorrow

    New York District judge Thomas Griesa has scheduled a hearing at 4 pm local time tomorrow to address Argentina's recent public statements over their attempts to pay creditors, a court official said.

  • 11/08/2014 | Argentina

    Gov’t insists it is not involved in talks between banks, holdouts

    The cabinet chief reiterated that any ongoing negotiations between Argentinean private agents and holdouts “are not the state’s concern or responsibility.”

  • 12/08/2014 | Argentina

    Kirchnerites slam vultures, support CFK leadership in mass rally

    Thousands of pro government activists gathered at the Luna Park stadium in Buenos Aires City, to express their support in favour of President Cristina Fernández de Kirchner's stand against the so called vulture funds.

  • 07/08/2014 | Argentina

    ‘To say that there is no investment because of vultures is a lie’

    The economy minister reiterated his criticism against industrial leaders for "using" Argentina’s dispute with vulture funds as an “excuse” for not investing. He said that the “government is an ally” of those who invest.

  • 07/08/2014 | Argentina

    ‘The debt has to be paid but not at the expense of the people’

    Supreme Court Chief Justice Ricardo Lorenzetti commented for the first time on the government’s battle against vulture funds. “The debt has to be paid,” but “with humans rights as limits,” he warned.

  • 06/08/2014 | Argentina

    Economy Minister warns against 'local vultures'

    Economy Minister Axel Kicillof said that the government is “closely monitoring” business leaders to make sure they “do not take advantage of the vulture funds dispute”.

  • 06/08/2014 | Argentina

    Kicillof tells bondholders they have rights over funds withheld in NY

    The Economy Ministry reminded bondholders that they possessed rights and "solutions" over the funds currently owed to those holding restructured titles, which are being held by the Bank of New York (BoNY) while Argentina argues that they must be turned over to participants of the 2005 and 2010 debt swaps.

  • 07/08/2014 | Argentina

    Gov’t fires back at Griesa, reiterates BoNY has to pay bondholders

    Cabinet Chief Jorge Capitanich said US Judge Thomas Griesa has proved his “incompetence, constant bias” by ratifying his order to keep a hold on funds Argentina deposited for exchange bondholders in the Bank of New York Mellon.

  • 04/08/2014 | Argentina

    Judge Griesa allows JP Morgan payment, confirms Pollack as mediator

    New York judge Thomas Griesa has granted the JP Morgan bank permission on a one-time basis to pay out interest services to holders of restructured Argentine bonds, and confirmed that 'Special Master' Daniel Pollack would remain as mediator in the legal dispute despite criticisms from the nation.

  • 05/08/2014 | Argentina

    Gov't blasts US judge Griesa for ratifying Pollack as Special Master

    Cabinet Chief Jorge Capitanich criticised US Judge Thomas Griesa’s decision to confirm Daniel Pollack as mediator to conduct talks between Argentina and holdouts saying "it ratifies the judge’s stance, that does not understand the difficulties of the process.”

  • 06/08/2014 | Argentina

    Gov't confirms BoNY notice to pay restructured bondholders

    Cabinet Chief Jorge Capitanich confirmed that Argentina has formally demanded the Bank of New York Mellon and other financial entities, in a reference to Citibank, to guarantee that restructured bondholders receive the u$s 539 millions deposited by Argentina.

  • 04/08/2014 | Argentina

    Gov't calls for legal action against vulture funds

    Cabinet Chief Jorge Capitanich said the government will call for an inquiry for “fraudulent maneuvers” and urged “bondholders, trustees and clearing agencies” to also take legal action against vulture funds.

  • 04/08/2014 | Argentina

    'The market has spoken and it has determined that there is no default'

    President of the National Security Commission (CNV) Alejandro Vanoli confirmed in a press conference that the national securities watchdog is calling European and US counterparts for a “thorough inquiry” on vulture funds for “fraudulent manoeuvres”.

  • 04/08/2014 | Argentina

    Cristina: We will adopt measures to help Argentina

    President Cristina Fernández de Kirchner has asserted she would only take decisions that benefitted the overall health and stability of the Argentine state, as she called on the country to defend the achievements of the past 10 years.

  • 01/08/2014 | Argentina

    Foreign private banks, hedge funds closer to overcoming barrier in negotiations

    Holdhout hedge funds and the three foreign private banks involved in negotiations to buy Argentine sovereign debt have come closer to a common position, a report by journalist Guillermo Laborda in ámbito.com reveals.

  • 02/08/2014 | Argentina

    'Pollack is only missing to wear vultures' team shirt'

    Deputy Minister of Economy Emmanuel Álvarez Agis has renewed the government’s criticism of Daniel Pollack – the mediator appointed by US District Court Judge Thomas Griesa to conduct talks between Argentina and so called "vulture funds" –, questioning the lawyer’s “biased” position in the dispute.

  • 03/08/2014 | Argentina

    S. Court Justice Zaffaroni says Griesa's ruling is 'a judicial scandal'

    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”.

  • 31/07/2014 | Argentina

    Aurelius says no private sector approach worthy

    Aurelius Capital Management has shot down speculation that the hedge fund was fielding a viable private-sector proposal for selling its untendered Argentine sovereign debt in a bid to shorten the amount of time Argentina is in default.

  • 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.

  • 01/08/2014 | Argentina

    'No favourable expectations due to Griesa's biased position'

    The government has low expectations of today’s new hearing called by US District Court Thomas Griesa with Cabinet Chief Jorge Capitanich saying the magistrate has proved a “biased” position in Argentina’s debt dispute with so called "vulture funds".

  • 31/07/2014 | Argentina

    Bank of New York Mellon confirms still holding Argentina's payments

    The Bank of New York Mellon (BNY) sent a formal letter to holders of Argentina's exchange bonds essentially confirming that the sovereign had defaulted.

  • 31/07/2014 | Argentina

    CFK expected to make remarks on future strategy in holdouts battle

    President Cristina Fernández de Kirchner is expected to make remarks about the failed negotiations with holdout bondholders and the country’s future strategy today at 6 pm, at an official ceremony where she will extend provincial government’s debts maturity.

  • 31/07/2014 | Argentina

    Italian bondholders say banks deal would trigger RUFO clause

    The Italian bondholders' legal representative Tullio Zembo said that the agreement private banks and holdouts are currently working on would trigger the Rights Upon Future Offers (RUFO) clause.

  • 31/07/2014 | Argentina

    Foreign private banks still pursue deal

    Although a first strategy headed by Argentina’s ADEBA group of banks that aimed at buying defaulted bonds from vulture funds went wrong yesterday, negotiations with holdout hedge funds were being resumed today now with foreign private banks – such as the Citibank, the JP Morgan and the HSBC -, taking the lead in talks overseen both from New York and Buenos Aires.

  • 31/07/2014 | Argentina

    Bonds fall, country risk climbs on vulture funds dispute concerns

    Shares and bonds plunged as investors react to the failed negotiations between Argentina and holdout hedge funds. In the Buenos Aires City stock market the Merval index closed down by 8.4% to 8,187.99 points, far from yesterday’s record 6.9% climb.

  • 30/07/2014 | Argentina

    Bank representatives held talks with holdouts in New York

    Banco Macro director Sebastián Palla and other representatives of Argentine banks have made contact with 'vulture funds' in New York in order to lay out a proposal to avoid default. The negotiation, which started around midday, is separate to talks held between Economy minister Axel Kicillof and mediator Daniel Pollack.

  • 30/07/2014 | Argentina

    Pollack: 'Default is not a mere technical condition but rather a painful event that will hurt real people'

    Daniel Pollack, the mediator appointed by judge Thomas Griesa to oversee negotiations between the Argentine government and holdout investors, today confirmed that talks were unsuccessful between the two parties and that Argentina had fallen into default.

  • 30/07/2014 | Argentina

    Banks, vulture funds discuss details of debt agreement; meeting to be resumed tomorrow

    The meeting between Argentine private bank representatives and the so called “vulture funds” over the debt held by the hedge funds has been adjourned and will be resumed tomorrow. Ámbito.com has revealed that banks will contribute around 1.4 billion dollars in order to buy the titles from the holdouts investors.

  • 30/07/2014 | Argentina

    Banks' offer involves 'private agents only, not public sector'

    Cabinet Chief Jorge Capitanich referred to the u$s 250-million payment offer made by national private banks as a last-minute proposal to holdout hedge funds to prevent Argentina from plunging into a technical default.

  • 30/07/2014 | Argentina

    Argentina-VF hold 'face-to-face' talks for first time

    Face-to-face talks between representatives of Argentina and so called vulture funds suing the country over its defaulted bonds took place for the first time on Tuesday since negotiations were kicked off in New York earlier this month to settle a 1.3 billion dollar dispute threatening Argentina with the ghost of default for the second time in a decade.

  • 30/07/2014 | Argentina

    Kicillof: 'We offer holdouts to enter swap under same conditions of 2005, 2010'

    Economy Minister Axel Kicillof said Argentina will not sign an agreement that “compromises the country’s future,” as he confirmed no deal with holdouts was reached after today’s meeting with court-appointed mediator Daniel Pollack over the so called “vulture funds” case.

  • 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.

  • 29/07/2014 | Argentina

    Lavagna backs jurisdiction switch move

    A change of jurisdiction to pay bondholders who did accept the 2005 and 2010 debt swaps in Buenos Aires is “viable,” ex economy minister Roberto Lavagna said considering Argentina’s Central Securities Depository a possible option to complete the operation.

  • 29/07/2014 | Argentina

    Scioli confident about settlement with holdouts

    The governor of Buenos Aires province Daniel Scioli expressed confidence that an agreement with the so called vulture funds can still be reached. “I see last-minute positive signs,” he said.

  • 29/07/2014 | Argentina

    Parrilli says CFK 'alone' in fight against vulture funds

    Secretary to the Presidency Oscar Parrilli questioned opposition leaders for leaving President Cristina Fernández de Kirchner “alone” in Argentina’s fierce legal battle against vulture funds suing the country over its defaulted bonds.

  • 28/07/2014 | Argentina

    Judge Griesa authorises payment of bonds under Argentine law

    New York judge Thomas Griesa has confirmed that the Citigroup bank will on a one-off occasion be permitted to process payment on Argentine bonds held under local law, which form part of the titles restructured following the default of 2001.

  • 29/07/2014 | Argentina

    Technical default, a 'fabrication of rating agencies'

    Only a day ahead of the deadline set by US Judge Thomas Griesa for Argentina to pay in full to holdout bondholders, Cabinet Chief Jorge Capitanich said “there is no such a thing as a ‘technical default,’ stressing the country has paid creditors and accusing Griesa of not allowing them to receive payment.

  • 29/07/2014 | Argentina

    Argentina continues last-minute debt talks with US mediator Pollack in New York

    Today's meeting between an Argentine delegation and mediator Daniel Pollack in New York continue, with Economy minister Axel Kicillof flying in at the last minute to witness talks while the parties attempt to avoid possible default as a result of the ongoing dispute with holdout investors ahead of tomorrow's deadline.

  • 27/07/2014 | Argentina

    No meeting with Pollack scheduled for today

    Argentina does not have a meeting scheduled for today with court-appointed mediator Daniel Pollack in New York in its debt legal dispute with holdout creditors but talks continue, a government source said, as the country looks to avoid a possible debt default.

  • 28/07/2014 | Argentina

    Capitanich says economic activity independent of vulture fund battle

    Cabinet Chief Jorge Capitanich said “the economic activity is independent” of the outcome of the country’s legal battle against the vulture funds, asked about the impact in the country's economy in case an agreement is not reached with holdout creditors by Wednesday.

  • 28/07/2014 | Argentina

    Capitanich postpones Senate briefing ahead of debt deadline

    Cabinet Chief Jorge Capitanich has postponed until August 6 a Senate briefing scheduled for Wednesday, the day in which Argentina must pay debt obligations with investors currently blocked from receiving funds by New York judge Thomas Griesa.

  • 25/07/2014 | Argentina

    No resolution in NY meeting, Argentine delegation returns to Buenos Aires

    In a brief, closed-door meeting, US mediator Daniel Pollack met with representatives of Argentina. "The dialogue process opened with the mediator will continue within the next days," a statement released by the Economy Ministry confirmed.

  • 25/07/2014 | Argentina

    Kicillof questions world powers for 'validating' speculative attacks

    Vulture funds’ actions have “systemic effects” that jeopardise the improvement in people’s life conditions that regional countries have managed to reach over the past decade, Kicillof said while attending a meeting of the UNASUR South American Council of Economy and Finance in Buenos Aires City.

  • 26/07/2014 | Argentina

    Capitanich: 'Gov't will defend country's interests'

    Only a few days ahead of the July 30 deadline for a coupon payment on exchanged bonds, the cabinet chief called Argentineans to remain “calm” and trust the government’s position to face vulture funds that refused to enter the 2005 and 2010 debt swaps.

  • 24/07/2014 | Argentina

    Vulture funds claim Argentina wants default

    The NML Elliot fund owned by billionaire Paul Singer said today the Argentine government “made it clear it wants to default” after the meeting with appointed mediator Special Master Daniel Pollack over the Argentine defaulted debt case.

  • 24/07/2014 | Argentina

    Argentina insists on guarantees for RUFO clause protection

    After failing to reach an agreement during today's meeting with court-appointed mediator Daniel Pollack, Argentina reiterated that there could be no negotiations with 'vulture funds' until judge Thomas Griesa provides some insurance against possible liabilities related to the 'Rights upon Future Offers' (RUFO) clause.

  • 25/07/2014 | Argentina

    'If they had good faith, they would consider need for a stay'

    In his daily brief to the press, the cabinet chief accused vulture funds of acting in “bad faith” and called US Judge Thomas Griesa to allow "necessary negotiating time" in order to settle a 1.3 billion dollar dispute that continues to raise default fears in Argentina.

  • 24/07/2014 | Argentina

    ‘The situation is absurd, should be fixed by the judge himself’

    Ahead of a new hearing called by Judge Thomas Griesa's mediator, Daniel Pollack, in the battle against holdout creditors, Cabinet Chief Jorge Capitanich said the country faces "an absurd situation caused by an absurd ruling that should be fixed by the judge himself”.

  • 24/07/2014 | Argentina

    BA City Mayor Macri urges the gov't to pay holdout bondholders

    The mayor of Buenos Aires City Mauricio Macri reiterated his belief that Argentina should “comply with [US Judge Thomas Griesa’s] ruling” that orders the country to pay holdout hedge funds in full by Wednesday.

  • 24/07/2014 | Argentina

    Aurelius says it will not ask Griesa for a stay

    Argentine debt holdout investor Mark Brodsky, chairman of Aurelius Capital Management, said his group will not ask US Judge Thomas Griesa to suspend his payment order, after a story in an Argentine newspaper suggested that Paul Singer’s NML Capital Ltd could ask Griesa to reinstate the stay of injunction.

  • 23/07/2014 | Argentina

    ‘Life goes on for Argentina despite vulture funds' extorsion’

    In the aftermath of US Judge Griesa’s decision, Cabinet Chief Jorge Capitanich said that “despite the extorsion of a tiny group of speculators […] Argentina keeps on moving” and praised the government’s economic stimulus policies. “Life goes on for Argentina,” he stated.

  • 23/07/2014 | Argentina

    CFK defiant over vulture fund dispute

    President Cristina Fernández de Kirchner has reiterated the Argentine position of demanding fair and equal conditions in order to speak with holdout investors involved in the legal dispute with the country, and criticised judge Thomas Griesa for failing to address concerns in the conflict over unpaid sovereign debt.

  • 22/07/2014 | Argentina

    US Judge Griesa rejects stay request, Argentine lawyers say deal not possible by July 30 without it

    US Judge Thomas Griesa rejected Argentina’s request for a suspension on the ruling that ordered Buenos Aires to pay 1.3 billion dollars plus interests to vulture funds. The country’s lawyers said a deal cannot be reached by July 30 without it. Court-appointed mediator, Daniel Pollack, called for Argentina and holdouts to meet tomorrow at 11 a.m. (Argentine time) for a first face-to-face encounter.

  • 22/07/2014 | Argentina

    'Argentina's leaders have no interest in negotiating'

    Aurelius Capital Management, LP, a leading holdout investor in Argentina's debt battle said that the country still has no interest in negotiations, just hours before a hearing with US Judge Thomas Griesa on previous orders requiring the country pay holdout bondholders.

  • 22/07/2014 | Argentina

    Gov't: 'Griesa has not solved anything'

    Government has confirmed Judge Thomas Griesa called for a new meeting on Wednesday while saying he “did not solve anything” during today’s hearing and accusing him of using “vulture funds' terminology,” in an official press release by the Economy Ministry.

  • 21/07/2014 | Argentina

    Vulture funds ‘voracious at seizing real assets,’ Gov’t says

    The Cabinet Chief Jorge Capitanich has blasted once again the holdout hedge funds accusing them of being after YPF-Chevron assets in ressources-rich Vaca Muerta region. “If anything is clear it is their voracity to seize real assets,” he stated.

  • 21/07/2014 | Argentina

    Argentina repeats 'stay' request ahead of hearing with judge Griesa

    Argentina has formally asked judge Thomas Griesa to put on hold an order requiring it to pay the 'vulture funds' who did not participate in debt restructurings, while it seeks a "global resolution" to the legal dispute.

  • 22/07/2014 | Argentina

    Gov't says 'Argentina needs stay to honour its commitments'

    Before the hearing held in New York today, Cabinet Chief Jorge Capitanich reiterated the importance of the suspension of Griesa’s ruling requested by Argentina.

  • 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.

  • 17/07/2014 | Argentina

    'It is vulture funds that act in bad faith’

    The Cabinet Chief Jorge Capitanich reiterated that Argentina has not defaulted and rejected the possibility of a future default. He stressed that the government honours its commitments in good faith, unlike the so-called vulture funds, whom he accused of going after the resource-rich Vaca Muerta region.

  • 20/07/2014 | Argentina

    Scioli optimistic about vulture funds talks

    The governor of Buenos Aires province, Daniel Scioli, expressed his optimism over Argentina’s talks with holdout hedge funds saying they “will be alright”. He also said he was confident about the country’s future: “A big development phase is coming in Argentina”.

  • 16/07/2014 | Argentina

    'Vulture funds going after Argentina's Vaca Muerta region'

    Vulture funds are going after Argentina’s resource-rich Vaca Muerta region and are seeking to threaten the government with a “technical default” scenario, economist Agustín D’Atellis said.

  • 16/07/2014 | Argentina

    CFK in Brazil calls to stop 'financial looting'

    Upon her arrival to the BRICS summit in the Brazilian city of Brasilia, President Cristina Fernández de Kirchner addressed a group of young activists that praised her presence in the meeting.

  • 16/07/2014 | Argentina

    CFK rejects default; insists on message to holdouts: 'If you accept debt restructuring you could gain 300% in dollars'

    President Cristina Fernández de Kirchner rejected today the possibility of a new default during the UNASUR-BRICS meeting in Brasilia, highlighting Argentina is going to “keep on paying and honoring its debt,” while asking for support against the “so called vulture funds,” who are “pretending to collapse the Argentine debt restructuring.”

  • 14/07/2014 | Argentina

    'Vulture fund' asks Argentina to start immediate negotiations

    Aurelius Capital Management, the hedge fund that is one of the principal holdout investors of Argentine debt, signalled today that the nation's government faces a new crisis on June 30 if they do not enter into negotiations with the so-called 'Vulture Funds'.

  • 16/07/2014 | Argentina

    ‘Argentina has not defaulted, it will not default, Argentina pays”

    Cabinet Chief Jorge Capitanich bluntly rejected once again any possibility of Argentina falling into default and reiterated the government’s willingness to negotiate, in response to a new ad published in local newspapers.

  • 16/07/2014 | Argentina

    ATFA: 'Time is running out for Argentina'

    The American Task Force Argentina (ATFA) group the government has officially accused of being funded by same holdout creditors suing Argentina over its defaulted bonds, has resumed its advertisement campaign against Buenos Aires.

  • 10/07/2014 | Argentina

    Pollack: ‘I’ve been meeting with both sides on a daily basis’

    Special master Daniel Pollack revealed he has been talking with holdout and Argentine lawyers “on a daily basis”, one day before an Economy Ministry committee travels to New York to meet the mediator in the vulture funds case for the second time.

  • 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.

  • 11/07/2014 | Argentina

    Holdout creditor says Argentina not negotiating

    The Elliott Management Corp representative emerged from five hours of meetings with a court-appointed mediator today saying the government still refuses to have a negotiation 12 years after its historic default.

  • 10/07/2014 | Argentina

    Gov’t: ‘There is no possibility of default’

    Amid an escalating rethoric war between the government and holdout hedge funds in local and international newspapers, Cabinet Chief Jorge Capitanich bluntly rejected the latest ad published by the American Task Force Argentina (ATFA) and reiterated the country's ability and willingness to pay.

  • 10/07/2014 | Argentina

    Argentina lives a 'second independence'

    The Argentine ambassador to the United Kingdom marked the country’s Independence Day in London yesterday renewing calls to resume dialogue with the European nation over the sovereignty of the Malvinas Islands. Alicia Castro also welcomed the support of allies to Argentina in its current dispute against vulture funds.

  • 10/07/2014 | Argentina

    Senate passes C. Bank funds immunity bill

    In an almost unanimous voting and amid a fierce legal battle betweem Argentina and vulture funds suing the country over its defaulted bonds, the Senate passed a bill seeking to provide legal immunity for assets held by foreign central banks in the South American nation.

  • 09/07/2014 | Argentina

    'Vulture funds insult, threaten Argentina'

    Argentina’s dispute against holdout creditors suing the country over its defaulted bonds has reached international media once more now that the federal government has published a new ad at several foreign newspapers warning “facts show" vulture funds are "vultures.” No myth about it, the kirchnerite administration says.

  • 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.

  • 08/07/2014 | Argentina

    Luxembourg's Clearstream Clearing House asks Griesa to allow eurobonds payment

    Holders of Argentine bonds held through Luxembourg’s Clearstream Clearing House joined Belgian bondholders in their demand to US Judge Thomas Griesa for an emergency ruling to help them recover the funds deposited in the Bank of New York Mellon by Argentina, blocked by the Judge.

  • 08/07/2014 | Argentina

    CFK criticises 'vulture fund' behaviour through Twitter

    President Cristina Fernández de Kirchner used social media network Twitter today in order to criticise the conduct of holdout investors in their ongoing lawsuit against the Argentine government, while reiterating that the nation was committed to paying its debts.

  • 08/07/2014 | Argentina

    Kicillof responds to holdout critics: They have never lent to Argentina

    The Economy minister has responded to criticisms directed at him and the Argentine government by Elliott Management portfolio manager Jay Newman, reminding the representative of the holdout investors that they have never lent a cent to the nation.

  • 07/07/2014 | Argentina

    Kicillof requests 'stay' reinstatement during Pollack meeting

    Economy Minister Axel Kicillof today held a meeting that lasted almost four hours with the Special Master appointed by US Judge Thomas Griesa, Daniel Pollack, and requested that an injunction allowing Argentina to pay bondholders be reinstated while negotiations with holdouts developed.

  • 07/07/2014 | Argentina

    'No third party judge is entitled to prevent bondholders from receiving payment'

    Cabinet Chief Jorge Capitanich said Argentina is determined to “hamper the actions of any external agent” working to prevent bondholders from being paid and referred to a advert published in local and international newspaper to reassure bondholders of the government’s willingness to pay.

  • 07/07/2014 | Argentina

    Vulture funds 'open to compromise' with Argentina

    Elliott Management portfolio manager Jay Newman has revealed that the hedge fund would be willing to give the Argentine government more time to negotiate following the nation's reverse in the US Supreme Court, while criticising Economy minister Axel Kicillof for not meeting with the so-called 'vulture funds'.

  • 03/07/2014 | Argentina

    Kicillof confirms Pollack meeting without holdouts

    Economy minister Axel Kicillof has confirmed that Argentina would enter talks with mediator Daniel Pollack over the legal battle currently raging between the nation and holdout investors known as 'vulture funds', while clarifying that those hedge funds would not be present.

  • 04/07/2014 | Argentina

    Capitanich: 'US judiciary is not independent from vulture funds'

    Cabinet Chief Jorge Capitanich came on stage today to say that “considering a technical default is a manoeuvre from the New York judge but not from the Argentine Republic.”

  • 06/07/2014 | Argentina

    Regional ambassadors to the UN back Argentina in vulture funds battle

    Latin American ambassadors to the United Nations (UN) showed their support to Argentina in its dispute against holdout hedge funds. They agreed that the so-called vulture funds are a risk to debtor nations and that they pose a threat to the region.

  • 03/07/2014 | Argentina

    China, Cuba ratify support to Argentina in VF dispute

    The governments of China and Cuba have ratified their support to Argentina in its long-standing battle against vulture funds, a legal dispute that threatens to plunge the South American country into what the federal government has called the “euphemism” of a “technical default.”

  • 03/07/2014 | Argentina

    OAS meeting: Kicillof calls for 'urgent solutions' against vulture funds actions

    Economy Minister Axel Kicillof today requested urgent solutions to aid Argentina's debt restructuring process in the middle of litigation against the nations by vulture funds, at a special meeting called by the Organisation of American States (OAS).

  • 03/07/2014 | Argentina

    OAS supports Argentina position against hedge funds

    The Organisation of American States (OAS) voted today to support Argentina’s position against holdout investors, as well as expressing concern over what the entity called "the behaviour of speculative agents that affect global financial stability."

  • 02/07/2014 | Argentina

    'Vulture funds' request meeting tomorrow with minister Kicillof

    The NML Capital hedge fund is ready to meet and negotiate directly with Economy Minister Axel Kicillof and is willing to do so this week, according to an executive of the 'vulture fund' involved in legal wranglings with the government over defaulted debt.

  • 03/07/2014 | Argentina

    Gov't confirms July 7 meeting with vulture funds

    Argentina will play by the rules and “respect” the "agenda” that has been "agreed on" with mediator Daniel Pollack - designated by US Judge Thomas Griesa to lead negotiations with vulture funds -, Cabinet Chief Jorge Capitanich has said.

  • 03/07/2014 | Argentina

    'Argentina will negotiate but will not commit suicide'

    Foreign Minister Héctor Timerman, who is in Washington to attend an OAS meeting today, intensified the government’s condemnation of vulture funds accusing NML founder Paul Singer of “playing with workers’ cancer” when the US billionaire bought "for cents" an American company that was reported for allegedly using toxic materials.

  • 02/07/2014 | Argentina

    Gov't comitted to negotiate with holdout hedge funds

    Cabinet Chief Jorge Capitanich reiterated once again Argentina’s willingness to pay all of its creditors and neither confirmed nor denied the possibility to pay holdout hedge funds with bonds, as suggested yesterday by an Elliot Management representative.

  • 02/07/2014 | Argentina

    Economist Roubini warns VF should not be allowed to 'block' country's restructurings

    The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”

  • 02/07/2014 | Argentina

    Buenos Aires, Neuquén confirm payment to bondholders in NY

    Argentine provinces of Buenos Aires and Neuquen confirmed they will meet their foreign debt’s deadlines at the end of the month despite the government’s risk of default after US Judge Griesa blocked the funds deposited for restructured bondholders.

  • 01/07/2014 | Argentina

    Gov't 'working' on vulture talks’ details

    Cabinet Chief Jorge Capitanich said that the government is working on the Argentine delegation to travel to New York on Monday to meet with Judge Thomas Griesa and the holdout investors’ representatives. Capitanich said the names of those appointed to begin negotiations will be announced in the course of the week.

  • 01/07/2014 | Argentina

    BA Governor Scioli confident about vulture funds negotiations

    Buenos Aires province Governor Daniel Scioli expressed his optimism that negotiations with holdout hedge funds will be successful and said they “will be very good for Argentina.”

  • 01/07/2014 | Argentina

    'Vulture funds': Repsol, Paris Club models for Argentine agreement

    One of the hedge funds involved in the lawsuit against the Argentine government over unrestructured debt has said the agreements reached with Spanish petrol conglomerate Repsol and the Paris Club are good examples for the basis of an eventual pact.

  • 30/06/2014 | Argentina

    OAS calls for 'urgent' meeting to discuss Argentina's legal battle against vulture funds

    The Organization of American States (OAS) called member countries for an “urgent” meeting of consultation for Thursday to discuss Argentina’s sovereign debt restructuring. Secretary General José Miguel Insulza expressed his solidarity with Buenos Aires over its vulture funds dispute.

  • 30/06/2014 | Argentina

    Eurobonds holders ask Griesa for an exemption on funds block

    Holders of Argentina Eurobonds asked US Judge Thomas Griesa for an emergency ruling to help them recover the funds deposited in the Bank of New York Mellon by the government last Thursday that the judge ordered to be returned to the country.

  • 30/06/2014 | Argentina

    Argentina to send delegation to 'vulture fund' negotiations

    The Economy Ministry has announced that it has chosen a delegation to travel to the United States in order to negotiate with hedge funds who refused to take part in debt restructuring, as part of the mediation imposed by New York judge Thomas Griesa.

  • 30/06/2014 | Argentina

    Gov’t reiterates willingness to negotiate, rejects ‘technical default’

    Cabinet Chief Jorge Capitanich rejected the use of the term “technical default” in Argentina’s legal battle against the so-called vulture funds, saying the country “regularly meets its obligations”. He described Judge Thomas Griesa’s ruling as “unprecedented” since it prevented bondholder from being paid.

  • 30/06/2014 | Argentina

    Nobel laureate Pérez Esquivel urges Griesa to 'reflect on the debt'

    Argentine Nobel Peace Prize Laureate Adolfo Pérez Esquivel said he has sent a letter to US Judge Thomas Griesa who ruled against Argentina in its case against “holdout” creditors, urging him to “reflect on the debt”.

  • 30/06/2014 | Argentina

    NML Capital: 'Argentina has refused to negotiate'

    NML Capital holdout investors in Argentine sovereign debt said they have not met with the government to negotiate a settlement on defaulted debt, and accused the government of refusing to enter talks.

  • 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.

  • 29/06/2014 | Argentina

    OAS Council meets over Argentina’s hedge funds dispute

    The OAS Council called for a special meeting today to consider an Argentinean request to convene a meeting of consultation of ministers of foreign affairs for Thursday to discuss the country’s sovereign debt restructuring and its consequences.

  • 29/06/2014 | Argentina

    De la Rúa: ‘The mega-swap was not bad for the country’

    Amid the government’s complex negotiations with the holdout hedge funds, former President Fernando De la Rúa said the “mega-swap” (megacanje) –an operation made in 2001 to delay the deadline of different debts for which De la Rúa was later indicted for fraud- “was not bad for the country”.

  • 27/06/2014 | Argentina

    'Argentina needs less rhetoric, more professionalism' to settle debt dispute

    The head of the Frente Renovador opposition coalition Sergio Massa said Argentina “needs less rhetoric and more professionalism” in its dispute with bondholders that refused to enter the 2005 and 2010 debt swaps. Still, the MP warned a default would be “madness.”

  • 27/06/2014 | Argentina

    Duhalde says gov't did ok to pay, questions US justices' independence

    Usually a fierce critic of the Cristina Fernández de Kirchner administration, former president Eduardo Duhalde praised the government’s decision to pay bondholders and questioned the judicial system of the United States. Justices there, he said, may be “independent” from the White House “but not from financial sectors.”

  • 27/06/2014 | Argentina

    'If Griesa blocks payment to bondholders, will damage private activity'

    The ball is on Griesa’s court now that the government moved to to serve its debt with bondholders and made a payment in New York yesterday, MP Roberto Feletti warned saying that a decision blocking the payment to exchange creditors would "damage the private activity."

  • 26/06/2014 | Argentina

    Government makes debt payment on restructured bonds, blasts Washington for judicial rulings

    Economy Minister Axel Kicillof held a press conference to announce 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.

  • 26/06/2014 | Argentina

    ‘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.

  • 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.

  • 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.”

  • 26/06/2014 | Argentina

    Vulture dispute: Gov't celebrates ‘categorical, broad’ international support for Argentina

    Cabinet Chief Jorge Capitanich praised the “clear, categorical and broad” support for Argentina’s stance in its dispute with vulture funds from 133 countries and specialized international media. “Argentina has reason on its side,” he stated.

  • 25/06/2014 | Argentina

    Kicillof to 'raise awareness' on anti-debt restructuring rulings at United Nations

    Cabinet Chief Jorge Capitanich referred to the economy minister's presentation at the G77 and China meeting in New York today, saying Argentina will seek to “raise awareness” about the impact of legal decisions in debt restructuring processes.

  • 25/06/2014 | Argentina

    US Council on Foreign Relations bashes Supreme Court ruling: 'It will diminish national sovereignty'

    The Council on Foreign Relations, one of the most influential private organizations in US Foreign Policy, questioned the country’s Supreme Court for rejecting Argentina’s appeal in its legal dispute with the so-called vulture funds, saying the ruling will "diminish national sovereignty".

  • 25/06/2014 | Argentina

    UN warns US pro-vulture funds rulings 'erode sovereign immunity'

    United Nations trade agency UNCTAD said today that the recent US court ruling on Argentina's debt erodes sovereign immunity and is not in compliance with the country's own US Foreign Sovereign Immunities Act.

  • 24/06/2014 | Argentina

    UNASUR expresses solidarity with Argentina over debt dispute

    The Union of Southern Nations (UNASUR) expressed its solidarity with Argentina after US Supreme Court decision to dismiss the country’s appeal in its legal dispute with holdout hedge funds, rejecting “the behaviour of speculative agents that endager the agreements reached between debtors and creditors”.

  • 24/06/2014 | Argentina

    Kicillof to address UN on debt restructuring

    Argentina’s bond fight against vulture funds suing the country over its defaulted bonds will be reaching the UN today when Economy Minister Axel Kicillof addresses a 134-nation plenary on the South American country’s debt restructuring process.

  • 24/06/2014 | Argentina

    'Vulture funds' want Argentine stay plea rejected by Griesa

    Hedge fund NML Capital have dismissed the Argentine government's request to reestablish a stay on payments to the so-called 'vulture funds', and called on New York judge Thomas Griesa to reject the plea.

  • 24/06/2014 | Argentina

    Gov’t awaits Judge Griesa’s decision on stay request

    The government awaits Judge Griesa's decision after it requested him to issue a stay on the ruling that orders Argentina to pay all bondholders at the same time, Cabinet Chief Jorge Capitanich has said.

  • 24/06/2014 | Argentina

    Argentina takes anti-vulture funds ad campaign to European media

    Three days after publishing in the Wall Street Journal an ad questioning vulture funds in their 1.3 billion dollar dispute with the country, the government stepped up its pressure against bondholders that rejected the 2005 and 2010 debt swaps.

  • 24/06/2014 | Argentina

    Bossio: ANSES assets can not be seized by vulture funds

    Facing “confunsing and wrong” media versions, ANSES social security office chief Diego Bossio has released a statement affirming the agency’s funds can not be seized by bondholders suing Argentina over its defaulted bonds.

  • 23/06/2014 | Argentina

    Capitanich: 'Equitable treatment cannot be violated by any judge'

    Cabinet Chief Jorge Capitanich reiterated the government’s claim for “fair and equitable conditions for 100% of bondholders”, referring to US Judge Thomas Griesa ruling ordering Argentina full payment to the so-called vulture funds. Capitanich stressed that “equitable treatment cannot be violated by any judge”.

  • 23/06/2014 | Argentina

    BA stock market higher as gov't decides to negotiate with vulture funds

    The government’s decision to negotiate with holdout hedge funds has had a positive impact on the stock market. Buenos Aires stock market opened in an upward trend, with a 8.7% rise to 7,985.11 points. Bonds and coupons, meanwhile, were up by 16%.

  • 23/06/2014 | Argentina

    Gov’t asks Griesa for a stay on debt ruling

    Economy Minister Axel Kicillof briefed the press on the content of Argentina’s formal presentation to Judge Griesa today. “We are asking judge Griesa for a suspension of his ruling in order to start a dialogue in fair, equitable and legal conditions, without breaking our commitments with bondholders who joined the debt restructuring,” the Minister said.

  • 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.”

  • 21/06/2014 | Argentina

    Gov't ratifies 'fair negotiating conditions' demand in Wall Street Journal ad

    The government has decided to take the country’s bond fight against vulture funds to international media. “Argentina wants to continue paying its debts but they don’t let it,” is the title of an advertisement published today in the Wall Street Journal.

  • 20/06/2014 | Argentina

    CFK confirms pro-negotiation stance with vulture funds, demands US Judge Griesa 'fair conditions'

    President Kirchner headed this afternoon an official ceremony marking Argentina’s national Flag Day in the city of Rosario, in the province of Santa Fe. Today's was CFK's second offical appearance in a troubled week, following the legal setbaks the country has suffered in its battle against vulture funds.

  • 20/06/2014 | Argentina

    Recalde: Aerolíneas Argentinas' planes face 'no' embargo risk

    President of Argentina’s flag carrier Mariano Recalde has denied risks of embargo of the company’s planes following a legal dispute with vulture funds that are suing the country over its defaulted bonds.

  • 20/06/2014 | Argentina

    Scioli: President will 'resolve' vulture funds conflict

    That he “trusts” in President Cristina Fernández de Kirchner who with her “intelligence” will defend the “general interest” is what Daniel Scioli said today, probably the firmest public message the governor of the province of Buenos Aires delivered this week regarding Argentina’s bond fight with vulture funds.

  • 19/06/2014 | Argentina

    Italian bondholders 'willing to collect anywhere'

    Lawyer Tullio Zembo said Italians holding Argentina’s restructured debt bonds “are willing to collect anywhere” although he considered the current legal situation that has raised default fears in the South American country “extremely difficult.”

  • 19/06/2014 | Argentina

    Scioli 'confident' vulture funds' conflict 'will turn out fine'

    Buenos Aires province Governor Daniel Scioli expressed his confidence about reaching a way out to a 1.3 billion dollar dispute that could plunge Argentina into default again. Scioli called to “communicate confidence to people that this will turn out fine.”

  • 19/06/2014 | Argentina

    'Vulture Funds' receive no word from Argentine government

    The holdout investors demanding full payment of Argentine bonds in default have claimed they have not been in contact with the Argentine government about possible negotiations following the US Supreme Court judgement, according to sources from the so-called 'vulture funds'.

  • 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.

  • 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.

  • 19/06/2014 | Argentina

    Gov't says no US mission scheduled to negotiate with vulture funds

    Following Argentina’s offer to negotiate with bondholders, the cabinet chief affirmed the ruling ordering to pay vulture funds “strikes” the country’s debt restructuring process. Ratifying Argentina’s “payment will,”  Jorge Capitanich said the government had no mission scheduled to the United States.

  • 18/06/2014 | Argentina

    Argentina offers to open 'vulture fund' negotiations; Griesa warns against changing payment jurisdiction

    Argentina's attorneys today informed US Judge Thomas Griesa that government officials plan to travel to New York next week to negotiate with holdouts to solve the situation, while the magistrate warned that reopening swaps to change the debt's jurisdiction to Argentina would be considered a breach of the ruling.

  • 18/06/2014 | Argentina

    Bossio calls for "calm", says Argentina 'is willing to pay'

    The ANSES social security agency executive director, Diego Bossio called for “calm” regarding US judge Thomas Griesa’s ruling that orders Argentina to pay bondholders who rejected the debt restructuring, saying Argentina “is willing to pay”.

  • 18/06/2014 | Argentina

    Judge Griesa considers CFK's speech a 'problem'

    US Judge Tomas Griesa today considered "a problem" the televised speech delivered by President Cristina Fernández de Kirchner on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts.

  • 18/06/2014 | Argentina

    ‘A tiny group of vulture funds won’t alter growth and social inclusion’

    In his daily press briefing, Cabinet Chief Jorge Capitanich bashed holdout hedge funds saying “the deliberate actions of a tiny group of vulture funds will not alter the economic growth, social inclusion and distributive equity of a sovereign country”.

  • 18/06/2014 | Argentina

    Argentina's lawyers head new negotiation attempt with NY Judge Griesa

    Lawyers representing Argentina in the United States in a 1.5 billion dollar dispute that risks sending the South American country into a sovereign debt default, were expected to meet New York appeals Judge Thomas Griesa this morning in a new negotiation attempt.

  • 18/06/2014 | Argentina

    Binner: ‘Argentina is in no position to set rules’

    After Economy Minister Axel Kicillof said the government will continue negotiating with US courts and that it is getting ready to pay holdout creditors, UNEN Broad Front’s lawmaker Hermes Binner said “Argentina is in no position to set rules.”

  • 17/06/2014 | Argentina

    Macri sees 'consequences for everybody' if gov't doesn't negotiate with Griesa

    Buenos Aires City Mayor Mauricio Macri considered the government should “sit at the negotiating table” with New York Judge Thomas Griesa to try to settle the legal dispute against vulture funds and “minimise” the damage on the Argentinean people.

  • 17/06/2014 | Argentina

    IMF worried about 'wider implications' of US Supreme Court's ruling

    The International Monetary Fund is “concerned about wider systemic implications” the ruling by the US Supreme Court could prompt following its decision to reject Argentina’s appeal aimed at staving off a default.

  • 18/06/2014 | Argentina

    Congress backs government’s strategy, Capitanich says

    After meeting with Congress party chiefs to discuss the government’s strategy regarding the country’s debt with houldout hedge funds, Cabinet Chief Jorge Capitanich said “the Congress, through its different blocs, has backed Argentina’s stance in defense of national interests.”

  • 17/06/2014 | Argentina

    Domínguez: Argentina will not say 'yes' to everything

    The head of the Lower House Julián Domínguez responded to opposition figures that questioned the government’s legal strategy against creditors that refused Argentina’s 2005 and 2010 debt swaps. “Would saying yes to everything be a good way to negotiate?” the Kirchnerite leader wondered.

  • 17/06/2014 | Argentina

    Lavagna thinks gov't should 'negotiate' with NY judge Griesa

    Ex Economy Minister Roberto Lavagna called for “calm” and “seriousness” to rethink Argentina’s legal strategy following the setback the country suffered on Monday when the US Supreme Court decided not to hear its appeal against vulture funds.

  • 16/06/2014 | Argentina

    After the adverse ruling, Scioli calls for patriotism

    After the adverse US Court ruling in Argentina’s legal dispute with the so called vulture funds, Buenos Aires province Daniel Scioli called for “patriotism” and urged all sectors to line up behind the national government.

  • 17/06/2014 | Argentina

    Government plans to reopen debt swap after US Supreme Court setback

    Economy Minister Axel Kicillof has announced that the government plans to reopen the debt swap program in the hope of renegotiating bonds under Argentine jurisdiction, after the US Supreme Court declined to take Argentina's case against the 'vulture funds'.

  • 17/06/2014 | Argentina

    US Court ruling ‘undermines the most successful sovereign debt restructuring process’

    Cabinet Chief Jorge Capitanich said the US Supreme Court’s decision to reject Argentina’s appeal on the hedge funds case “undermines the most successful sovereign debt restructuring process” and that it buffets “the foundations of a new perspective on international finances and economy”.

  • 16/06/2014 | Argentina

    Politicians take US Court ruling to Twitter

    Minutes after the US Court released its adverse verdict for Argentina in its legal dispute against hedge funds creditors, and in the wake of an official government statement, politicians took their reactions to Twitter.

  • 16/06/2014 | Argentina

    UCR’s Sanz urges gov’t to be cautious after US verdict

    UCR Party head Ernesto Sanz said the federal government should be “cautious” seeking to minimize the cost of the adverse US Court ruling over vulture funds dispute for Argentineans.

  • 16/06/2014 | Argentina

    'The US Court decision is irresponsible'

    ANSES executive director Diego Bossio said the decision of the US Supreme Court to reject Argentina’s appeal on the hedge funds case was “irresponsible”.

  • 16/06/2014 | Argentina

    Gov’t to release public statement after US top court verdict

    Cabinet Chief Jorge Capitanich called for prudence and refused to make comments on the imminent US Supreme Court holdout ruling on Argentina’s appeal of rulings requiring it to pay the holdout bondholders back in full, expected for today at 10.30 a.m.

  • 16/06/2014 | Argentina

    CFK: Argentina will not default on restructured debt

    President Cristina Kirchner has vowed to honour Argentine debt commitments to those bondholders who entered restructuring agreements in 2005 and 2010, after learning of the refusal by the US Supreme Court to take the case against holdout investors.

  • 16/06/2014 | Argentina

    After US court ruling, Argentine shares plummet in Buenos Aires and New York

    Shares on the Buenos Aires Stock Exchange were in freefall today after the US Supreme Court's adverse ruling in the country’s case against to hedge fund creditors, the so called vulture funds.

  • 12/06/2014 | Argentina

    Gov't 'expectant' about US Supreme Court decision

    Economy Minister Axel Kicillof said the federal government was “expectant” about a decision by the United States Supreme Court that could bring same relief to Argentina today if it favours the South American position in its billionaire dispute against vulture funds.

  • 12/06/2014 | Argentina

    US Supreme Court to reveal vulture case decision on Monday

    The US Supreme Court will reveal its decision on the vulture funds case on Monday at 10.30am, after deliberating today behind closed doors on the Argentine appeal request.

  • 14/06/2014 | Argentina

    White House 'likely' to back Argentina in vulture funds dispute

    US Supreme Court is likely to issue a ruling in the upcoming months favouring Argentina’s position in the country’s dispute against vulture funds, former Argentine Finance Secretary Guillermo Nielsen has said. The US top tribunal would first have to consult the White House on the default case, he pointed out, a decision that is expected to be announced on Monday.

  • 10/06/2014 | Argentina

    Capitanich praises anti-vulture funds delegation, bashes UNEN absence

    Cabinet Chief Jorge Capitanich praised the Congressional delegation that travelled to Washington DC to support Argentina’s stance in its court battle with hedge funds and criticised the absence of UNEN Broad Front representatives in the committee.

  • 10/06/2014 | Argentina

    'US supports Argentina in vulture funds dispute'

    Part of the mission that flew to Washington this week to support the government in its legal battle against vulture funds, MP Di Tullio has affirmed the Barack Obama administration “backed” Argentina’s stance.

  • 10/06/2014 | Argentina

    Kicillof: 'Vulture funds are trying to carry out attack against Argentina'

    Economy Minister Axel Kicillof has lent his support to a group of Argentine legislators currently in the United States ahead of June 12's US Supreme Court decision on whether to take the case concerning holdout investors, while launching a fierce attack on the conduct of the so-called 'Vulture Funds'.

  • 05/06/2014 | Argentina

    Capitanich defends Congress appearance, calls for 'unified position' against vulture funds

    Jorge Capitanich defended his appearance at Congress yesterday when opposition MPs decided to skip the session, leaving the cabinet chief to brief a half-empty Lower House, and urged anti-Kirchnerite sectors to support the government in Argentina's dispute against vulture funds.

  • 05/06/2014 | Argentina

    Vulture funds case: IMF expresses ‘concern’ over outcome

    The International Monetary Fund expressed “concern” today over the outcome of Argentina's vulture funds case, during a press briefing in Washington.

  • 09/06/2014 | Argentina

    Anti-Vulture Funds delegation meets with US politicians

    The group arrived in Washington DC today and met with members of the US State Department officials and the House of Representatives, to whom they communicated their support for the Argentine government's position against the holdout investors.

  • 01/06/2014 | Argentina

    Gov't hopeful that US Supreme Court will take Vulture Fund case

    The deputy Economy minister Emmanuel Álvarez has affirmed that the government has high hopes that the United States Supreme Court will intervene in Argentina's long-running legal battle with holdout investors, dubbed 'Vulture Funds', over debt defaulted on in 2001.

  • 02/06/2014 | Argentina

    Gov't on alleged leaked memo: 'We said all we had to say in Court'

    Cabinet Chief Jorge Capitanich refused to give further details on an alleged leaked legal memo which would advise the government on a plan to restructure Argentina’s bonds outside the reach of US courts if the Supreme Court does not take the case against holdout investors, the so called Vulture Funds. “The document was leaked without consent,” he stressed.

  • 03/06/2014 | Argentina

    British MPs support Argentina in battle against 'Vulture Funds'

    More than 100 British Members of Parliament have signed a resolution of support for Argentina in the fight against the 'Vulture Fund' holdout investors, and warned that if the United States Justice System ruled against the nation it could fall into default.

  • 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.

  • 30/04/2014 | Argentina

    US sees progress in talks between Argentina and IMF, ICSID

    Roberta Jacobson, head of the Latin America division at the State Department, argued the US “has been encouraging” Argentina to resolve the disputes with the ICSID, while admitting that “progress has been made.”

  • 15/05/2014 | Argentina

    Gov’t praises US IMF nominee remarks on Vulture Funds case

    Cabinet Chief Jorge Capitanich praised remarks made by the nominee to represent the US on the International Monetary Fund's executive board, Mark Sobel, who said that a US Court ruling favorable to Vulture Funds might “alter the order and predictability” of debt restructuring processes.

  • 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.

  • 14/04/2014 | Argentina

    Economy Minister confirms international support for Argentina in vulture funds case

    By Liliana Franco
    Economy Minister Axel Kicillof returned from Washington satisfied. In the past three days he was able to confirm the genuine concern of numerous countries and even the International Monetary Fund (IMF) regarding an adverse ruling in the vulture funds case against Argentina.

  • 21/04/2014 | Argentina

    US Supreme Court: Argentina's non-US assets should be off-limits to creditors

    US Supreme Court justices today indicated that creditors should be able to seek limited information about Argentina's non-US assets in a case stemming from long-running litigation over Argentina's obligations to bond investors.

  • 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.

  • 25/03/2014 | Argentina

    Gov't praises support of France, Mexico, Brazil in vulture funds row

    Capitanich praised the government’s Procrear building program explaining that the construction activity increased by 2.1 percent in January. The head of ministers also stressed the support by France, Brazil and Mexico to Argentina in its long-stranding legal dispute against vulture funds.

  • 26/03/2014 | Argentina

    US Supreme Court confirms Brazil, Mexico, France support in vulture fund case

    The US Supreme Court has confirmed that Brazil, Mexico and France have officially presented their opinions on an appeal currently being studied in the judicial authorities, which relates to the litigation held against Argentina by the so-called 'Vulture Funds'.

  • 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’.

  • 06/03/2014 | Argentina

    Gov't praises US support in vulture funds litigation

    Cabinet Chief Jorge Capitanich has praised Washington’s support to Argentina in its long-standing dispute with the so called vulture funds, suing the South American country over its defaulted bonds more than a decade ago.

  • 20/03/2014 | Argentina

    Argentina's Paris Club offer 'very interesting'

    Cabinet Chief Jorge Capitanich has praised France’s support to Argentina in both its debt disputes with US-based vulture funds suing the South American country over its defaulted bonds more than a decade ago and the Paris Club creditor nations group.

  • 16/02/2014 | Argentina

    ‘Vulture’ funds dispute: Argentina to appeal before US Supreme Court

    Argentinean Government will appeal tomorrow for the second time against the 'vulture' funds claim. The Supreme Court is the last judiciary step in the dispute.

  • 18/02/2014 | Argentina

    Gov't requests Supreme Court review in 'Vulture Fund' case

    The Argentine government has formally filed a petition seeking the US Supreme Court review of a court order requiring it to pay $1.33 billion to bondholders who refused to take part in two previous debt restructurings.

  • 20/02/2014 | Argentina

    Debt swap participants appeal before US Supreme Court

    A group of bondholders that entered the restructuring of Argentine debt in 2005 and 2010 have presented their own appeal before the US Supreme Court, in the case involving the so-called 'vulture funds'.

  • 15/11/2013 | Argentina

    Griesa throws out ‘vulture fund’ request

    United States Judge Thomas Griesa rejected two new requests filed by the hedge fund NML who asked to have access to information and said Argentina was breaking Griesa’s order not to change the payment mechanisms of debt bonds, Télam state news agency reported yesterday.

  • 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.”

  • 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.

  • 07/10/2013 | Argentina

    Cosentino defiant after US Supreme Court refuses Argentina case

    Finance Secretary Adrián Cosentino has confirmed that Argentina would use every option open to them to take on the vulture funds in the ongoing New York trial, after seeing their request to take the case before the US Supreme Court declined.

  • 09/10/2013 | Argentina

    Central Bank appeals Judge Griesa decision to freeze reserves

    The Central Bank has appealed Judge Thomas Griesa ruling on the Vulture funds case where he established an order to freeze its assets, after considering the entity an ‘Alter Ego’ of the Argentine state.

  • 01/11/2013 | Argentina

    Bondholders lose bid to lift stay in Argentina litigation

    A US appeals court today said it would leave a freeze in place on an order requiring Argentina to pay $1.33 billion in favor of bondholders suing for repayment in the wake of the country's 2002 default.

  • 03/10/2013 | Argentina

    Lorenzino sharpens strategy against vulture funds in New York

    Economy Minister Hernán Lorenzino met in New York with Inter American Development Bank authorities, and will visit the Cleary, Gottlib, Steen and Hamilton law firm, which represents Argentina in its billonaire dispute against the so called “vulture funds.”

  • 03/10/2013 | Argentina

    Griesa accuses Argentina of 'evading' court orders

    New York judge Thomas Griesa has once more ruled against Argentina in the nation's battle with the vulture funds, determining that the jurisdiction of the bonds that entered the debt swaps of 2005 and 2010 cannot be changed.

  • 03/10/2013 | Argentina

    CFK: US courts 'want to lead us to default’

    President Cristina de Kirchner has accused part of the United States judiciary of wishing to take Argentina "to default", comparing the nation's situation with that which currently faces US counterpart Barack Obama.

  • 25/09/2013 | Argentina

    Vulture funds: Griesa rules Argentine bank assets can be seized

    New York Judge Thomas Griesa has ruled against Argentina's request to dismiss a lawsuit over the Central Bank which if upheld could allow holdout creditors to seize assets belonging to the nation.

  • 01/10/2013 | Argentina

    Boudou: 'Argentine case not the centre of universe for US Supreme Court'

    Vice-president Amado Boudou has reaffirmed the Argentine lawsuit against the “vulture funds” in the United States was “important” for the Government, but not for the US Supreme Court who receive 8,000 appeals annually.

  • 14/09/2013 | Argentina

    CFK's first interview in 4 years: vulture funds, country history and Perón

    In her first interview in four years President Cristina Fernández de Kirchner blasted vulture funds, reaffirming “the financial world's business aims to generate more debts”. She went through the Argentine history related to the external debts and her youth connected with Perón return to the country in 1973.

  • 23/09/2013 | Argentina

    CFK assures that creditors outside debt swap will be repaid

    President Cristina Fernández de Kirchner has confirmed that Argentina will honour its obligations to so-called 'vulture funds' and pay debts, if the United States Supreme Court rules against the country in the ongoing legal struggle.

  • 24/09/2013 | Argentina

    CFK to bring vulture funds dispute to UN General Assembly table

    President Cristina Fernández de Kirchner will be adressing the United Nations General Assembly today at 1700 Buenos Aires time with a speech that is expected to have Argentina’s long-standing battle against vulture funds among its mainstays.

  • 08/09/2013 | Argentina

    Cosentino dismisses chance of new embargos on Argentina

    The Finance Secretary has played down the possibility of Argentina being hit by economic sanctions, due to the ongoing lawsuits filed by 'Vulture Funds' looking to recover around 1.47bn dollars in unpaid debts.

  • 10/09/2013 | Argentina

    S&P reduces Argentina’s debt note

    Standard & Poor's cut its long-term sovereign foreign currency credit rating on Argentina to CCC-plus from B-minus in the wake of a US appellate court upholding an order for Buenos Aires to pay holdout investors on unrestructured debt.

  • 11/09/2013 | Argentina

    US Supreme Court to decide on Argentina's case review

    The US Supreme Court will decide on September 30 whether it accepts Argentina’s appeal on vulture funds. On this date the Court will hold a private conference to analyse if they will review the case.

  • 04/09/2013 | Argentina

    Senate debates debt swap

    The Senate was addressing today the debt swap announced by President Cristina Fernández de Kirchner following the recent New York judicial setback in Argentina’s long-standing dispute against US-based vulture funds.

  • 04/09/2013 | Argentina

    New debt swap plan approved by Senate

    The Argentine Senate has approved plans to reopen exchanges on national debt for a third time, the motion passing through the upper house with 57 votes in favour and eight against.

  • 07/09/2013 | Argentina

    'Vulture Funds’: Government files appeal before US Court

    Just a few moments before deadline, the government filed two appeals before the United States Appeals Court over the dispute with the so called ‘Vulture Funds’.

  • 27/08/2013 | Argentina

    Kirchnerite governors defend debt swap

    Debt swap announced by President Cristina Fernández de Kirchner has received strong support from provincial governors. First to ratify the official move was BA province head Daniel Scioli: “If the government does well, the country goes well.”

  • 28/08/2013 | Argentina

    'Debt swap is not a way to dodge justice' - Lorenzino

    The debt swap announced earlier this week landed in the Senate today with Economy Minister Hernán Lorenzino and his second-in-command Axel Kicillof defending a move that seeks to win over a 1.3 billion dollar dispute against vulture funds.

  • 29/08/2013 | Argentina

    Vulture funds urged NY judge Griesa to call off hearing - Gov't

    Vulture funds fighting Argentina over the country’s defaulted bonds a decade ago requested New York judge Thomas Griesa to call off the hearing scheduled for today, the state news agency Télam reported.

  • 26/08/2013 | Argentina

    CFK slams court ruling in favour of creditors

    President Cristina Kirchner has strongly criticised the decision of the New York Appeals Court to rule in favour of the group of creditors known as Vulture Funds, stating that the judgement "ignores the agreement we have reached with 93 percent of bond-holders."

  • 27/08/2013 | Argentina

    Pignanelli: Debt swap opponents are 'traitors'

    Former Central Bank president Aldo Pignanelli has criticised opponents of a third debt swap proposed by head of state Cristina Kirchner, pointing out that it was a subject that "transcended" politics and dismissing those against the plan as "traitors against the nation".

  • 27/08/2013 | Argentina

    Prat Gay to vote against new debt swap proposal

    The president of the Civic Coalition block in the Lower House has announced his intention to vote against the plans to reopen debt swaps for external creditors.

  • 26/08/2013 | Argentina

    Melconian: Vulture funds are 'goodwill people,' Argentina is 'untrustworthy'

    Economist Carlos Melconian made at least controversial statements that might upset some Kirchnerites as the government battles hard not to lose a 1.3 billion fight over Argentina’s defaulted bonds a decade ago. “Vulture funds are goodwill people”, he considered and questioned the country’s financial solidity to face debt commitments.

  • 26/08/2013 | Argentina

    Congress to debate new debt swap

    President Cristina de Kirchner has announced that a new law will be sent to Congress in order to reopen debt swaps for a third time, in the hope of convincing the 7 percent of creditors who refused in 2005 and 2010 to restructure their bond holdings.

  • 26/08/2013 | Argentina

    Vulture Funds: Current bond holders will be paid in Argentina according to new proposal

    Businesses and individuals who currently hold bonds obtained in Argentina's debt swaps face the prospect of their payment sites being changed, if a new project announced by president Cristina Kirchner passes through Congress.

  • 01/08/2013 | Argentina

    IMF demands 'trustworthy economic figures' from Argentina

    Director General of the International Monetary Fund (IMF) Christine Lagarde has once more requested that Argentina present economic figures based on "Trustworthy and credible numbers and statistics".

  • 12/08/2013 | Argentina

    Timerman slams 'anti-Argentine campaign' by vulture funds

    Argentina Foreigjn Minister Héctor Timerman has strongly criticised a supposed "anti-Argentina campaign" carried out by members of the vulture funds in the US Congress, as he met with legislators from the country in a summit.

  • 25/08/2013 | Argentina

    Lorenzino defiant over vulture funds: 'They will not take us back to 2001'

    Economy minister Hernán Lorenzino has spoken out about the New York court pro-vulture funds ruling stating that the decision by judge Thomas Griesa was an "attempt to take the country back to 2001".

  • 13/07/2013 | Argentina

    US media says Obama 'considering siding with Argentina' in vulture funds dispute

    US Justice, Treasure and State Department officials met with lawyers both from Argentina and vulture funds that refused to accept the South American country's debt swap, The Washington Post reported.

  • 17/07/2013 | Argentina

    IMF to file brief with US Supreme Court in Argentina case

    In an unprecedented move, the International Monetary Fund plans to ask the US Supreme Court to review Argentina's case in a decade-old legal battle with holdout creditors, because of the implications it could have on sovereign debt restructurings.

  • 23/07/2013 | Argentina

    IMF will not support Argentina in Vulture Fund case

    The International Monetary Fund no longer plans to ask the US Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors due to a lack of support from the US government, the  financial institution has confirmed.

  • 09/07/2013 | Argentina

    New York appeals court recognises 'Vulture Funds' entitled to payment

    The Appeals Court of New York's Second Circuit has released their opinion on Argentina's defaulted bonds. The latest order states that the court rejects appeals made against the judgement of October 26 2012 which had obliged Argentina to pay 100 percent of their debts to creditors.

  • 09/07/2013 | Argentina

    Court statement 'does not affect appeal,' Gov't says

    The order handed down by the Appeals Court of New York's Second Cirtcuit "does not affect the appeal" that the Argentine government is pursuing in the case against the vulture funds, according to the Economy Ministry.

  • 11/07/2013 | Argentina

    German court rules in Argentina favour against 'Vulture Funds'

    German courts have rejected a petition from bondholders related to the Argentine debt 'default', using a similar interpretation based in the 'pari passu' clause that vulture funds pursued in New York which was accepted by Judge Thomas Grieta.

  • 30/03/2013 | Argentina

    Argentina holds ground in bond payment offer

    Argentina is pitching an alternative payment formula to a US appeals court that would allow it to resolve litigation with creditors holding defaulted bonds for which they are demanding to be paid $1.33 billion.

  • 30/03/2013 | Argentina

    Gov't: 'We'll keep on meeting debt obligations'

    Vice President Amado Boudou, Economy Minister Hernán Lorenzino, deputy Economy Minister Axel Kicillof and Finance Secretary Adrián Cosentino held a press conference defending Argentina’s stance at the US appeals court over the country’s dispute with “vulture funds”.

  • 19/04/2013 | Argentina

    Vulture funds reject Argentina's payment offer

    Vulture funds have rejected Argentina’s debt payment offer over defaulted bonds renewing its position that the South American country fulfill its 1.3 billion dollar pay obligation.

  • 09/01/2013 | Argentina

    'The battle against vulture funds has been won'

    Defence Minister Arturo Puricelli assured that the arrival of the Libertad Frigate to Argentina, after being impounded in Ghana for 77 days, means "the victory of the battle against the worst of the financial speculations, which are the vulture funds."

  • 25/01/2013 | Argentina

    'Vulture funds' say Argentina must pay up

    Investors who refused to join two sovereign debt restructurings by Argentina urged a US court to force the country to pay them.

  • 29/03/2013 | Argentina

    NY: Argentina presents reopening of debt swap offer

    The national government will be making today’s afternoon a presentation before the New York appeals court to reopen Argentina’s debt swap in a move that seeks vulture funds to accept the debt restructuring offer.

  • 26/11/2012 | Argentina

    'We won't tolerate NML's blackmailing,' Argentina's Ambassador to US

    Argentina’s Ambassador to the US, Jorge Argüello, assured today that “Argentina will not pay the price for the financial irrationality of the North", and under no circumstances "will tolerate the vulture funds’ blackmailing.”

  • 04/12/2012 | Argentina

    US Appeals Court rejects motion filed by 'vulture funds'

    A US appeals court refused to order Argentina to post a security deposit of at least $250 million while it seeks to overturn a lower court ruling that orders it to pay holdout investors $1.33 billion.

  • 13/12/2012 | Argentina

    'We don't need int'l lenders,' Lorenzino announces bond payment

    Economy Minister Hernán Lorenzino announced Argentina will be making payments for more than $3.5 billion dollars in GDP-linked bonds, during a press conference at the Economy Ministry.

  • 20/11/2012 | Argentina

    ‘Vulture funds seek to mount a default stage,’ Lorenzino

    Economy Minister Hernán Lorenzino said today that claims set by international "vulture" funds against Argentina have the only intention of mounting fear and raise doubts about the country’s ability to repay debt."

  • 22/11/2012 | Argentina

    Lower House Kirchnerite leader says ruling is ‘reprehensible’

    The leader of the Kirchnerite caucus in the Lower House, Agustín Rossi, referred to the recent ruling signed by US District Judge Thomas Griesa against Argentina saying it is “reprehensible”.

  • 23/11/2012 | Argentina

    Scioli pleas 'collaboration' in 'vulture' funds fight

    Buenos Aires province governor Daniel Scioli rejected the recent ruling in favour of “holdout” bond investors by New York Judge Thomas Griesa and called on other provincial governors, mayors and union leaders to “join in collaboration” in order to bring peace of mind to the population.

  • 09/11/2012 | Argentina

    'We will continue to face vulture funds,' Argüello warns

    Ambassador to the US Jorge Argüello assured that that Argentines will continue to face vulture funds, and deemed them as “speculators who bet on usury.”

  • 16/11/2012 | Argentina

    Argentina to give response over vulture funds in New York

    Argentine legal representatives in New York will present today before District Judge Thomas Griesa, their defence regarding the current stance of the vulture funds.

  • 17/11/2012 | Argentina

    Boudou lashes out at vulture funds, austerity measures

    Vice- president Amado Boudou accused vulture funds of despicable behaviour and warned that insisting on austerity measures carries out a high risk for Europe and for the global economy.

  • 04/11/2012 | Argentina

    CB governor lashes out at vulture funds in Mexico

    Central Bank governor Mercedes Marcó del Pont warned today that 2actions carried out by vulture funds should be a global cause of concern,2 as she took part of a meeting of central bank heads, ahead of the G20 finance ministers summit in Mexico.

  • 04/11/2012 | Argentina

    'G20 must set limits to vulture funds'

    Economy Minister Hernán Lorenzino called for developed countries to set limits to vulture funds credit rating agencies as promoters of the global crisis,” as he takes part of the G20 Finance Ministers meeting in Mexico.

  • 05/11/2012 | Argentina

    'Argentina to fight US court ruling on debt,' Lorenzino says

    Argentina will use all legal means to defend its position against a US court ruling that would force the country to repay creditors who sued to collect on defaulted Argentine bonds, Economy Minister Hernan Lorenzino said.

  • 30/10/2012 | Argentina

    S&P downgrades Argentina's rating on 'vulture funds' ruling

    Standard & Poor's Ratings Services reported it has downgraded Argentina's sovereign credit rating from "B" to "B-," following the US Second Circuit Court of Appeals affirmed the ruling over "vulture funds."

  • 30/10/2012 | Argentina

    Standard & Poor's complete report

  • 31/10/2012 | Argentina

    'Attacks will not stop Argentina from keeping its promises,' Lorenzino

    Economy minister Hernán Lorenzino assured today that “the attacks on risk qualifiers and the vulture funds are not going to stop Argentina from keeping its promises,” referring to the payment of large debts the country owes.

  • 26/03/2012 | Argentina

    Foreign Ministry 'regrets' US trade decision sanctioning Argentina

    The Foreign Ministry released a statement on Monday "regretting" US President Barack Obama's decision to suspend Argentina from the US Generalized System of Preferences programme, which waives import duties on thousands of goods from developing countries.

  • 19/10/2012 | Argentina

    Timerman calls for Ghana to 'assume its responsibility,' release Libertad frigate

    Foreign Minister Héctor Timerman demanded that Ghana “assumes its responsibility” of freeing the Libertad Frigate, which remains impounded in the African country’s port over claims of vulture funds.

  • 30/10/2012 | Argentina

    'We will never pay the vulture funds,' Economy minister says

    Economy minister Hernán Lorenzino assured today that the government “will never pay” the ‘vulture funds,’ although also affirmed that it will continue to pay “93 percent of the credit owed."

  • 09/11/2012 | World

    Griesa urges Gov't to revise position, pay to vulture funds

    US Judge Thomas Griesa urged Argentina to comply with the recent ruling which orders to compensate the bondholders that did not participate in both debt restructuring of the country.

  • 04/09/2013 | World

    Stiglitz on vulture funds: 'US court ruling tendentious, economically dangerous'

    A column signed by Nobel laureate Joseph E. Stiglitz named "The Vulture's victory" stressed "a recent decision by a United States appeals court threatens to upend global sovereign-debt markets."

  • 17/06/2014 | World

    Feletti: Let's not 'apocalypse', gov't to take 'sufficient measures'

    The Chairman of the Lower House Revenue and Budget committee expressed confidence that the government will take sufficient measures” to comply with all of Argentina’s debt commitments.

  • 17/10/2012 | World

    Switzerland rejects embargoes on Argentina's reserve deposits

    Switzerland’s government rejected a law suit filed by US vulture funds asking to set an embargo on Argentina's assets deposited in the Bank for International Settlements as funds claim the payment of a US$1 billion debt.

  • 02/11/2012 | World

    South Africa admits Espora corvette could also be impounded

    A month after the Libertad frigate was impounded, South African Foreign Affairs Minister Maite Nkoana-Mashabane confirmed that the Navy's Espora corvette moored at Cape Town could be retained over a lawsuit filed by vulture fund.

  • 08/11/2012 | World

    Griesa summons new hearing over Argentina, vulture funds

    US Judge Thomas Griesa summoned a new hearing at New York Court over the case of vulture funds against Argentina.

  • 06/04/2012 | World

    US backs Argentina in fight against vulture funds

    The US government requested a Court of Appeals to reverse the ruling of Judge Thomas Griesa in favour of a vulture fund, which forced Argentina to pay the interest on the debt of bonds exchanges carried out 2005 and 2010, sources said.

  • 25/06/2012 | World

    US Supreme Court confirms lift on US$100M embargo against Argentina

    The US Supreme Court rejected today an appeal presented by two vulture funds and confirmed a ruling of a New York’s Appeal court revoking a 100 million dollars embargo ordered by US Judge Thomas Griesa on Argentina’s Central Bank funds deposited at the US Federal Reserve Bank in New York.

  • 20/08/2012 | World

    US Court rejects Argentina's sovereign-immunity argument

    A US Federal Appeals Court in New York rejected Argentina’s argument that its sovereign immunity was affected by a lower-court ruling compelling compliance with subpoenas sought by NML Capital Ltd. for collection of five money judgments.

  • 18/06/2014 | Latin America

    Mujica suggests taking vulture case to OAS

    Uruguayan President José Mujica proposed that the case between Argentina and the vulture funds be treated in the OAS or other international forums such as the UNASUR or MERCOSUR, instead of in the New York court of Judge Thomas Griesa.

  • 13/03/2014 | Multimedia

    Washington 'won't side with Argentina in court,' Kerry affirms on vulture funds dispute

    The Barack Obama administration will not support Argentina in its long-standing dispute with vulture funds suing the South American country over its defaulted bonds more than a decade ago, US State Secretary John Kerry has warned. Still, the American official praised what he considered some “positive steps” the Kirchnerite government has taken.

  • 19/07/2013 | Economy

    Argentina bonds soar after IMF backing

    Argentina’s bond prices rose sharply yesterday as the International Monetary Fund surprised investors by supporting the country in its decade-long legal battle with holdout creditors.


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