Case study on Sovereign Debt (Argentina)

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#12
It is a delay tactic...

Argentina seeks U.S. court stay to avoid new debt crisis

BUENOS AIRES - Argentina asked a U.S. judge on Monday to issue a stay of his ruling against the country in its case against "holdout" creditors, as it sought to avoid a new default that would further punish an economy already slipping into recession.

The move is the latest twist in a 12-year-old battle with investors who refused to take part in bond restructurings after Argentina failed to pay about $100 billion of debt in 2002.

Without a stay on a ruling by U.S. District Judge Thomas Griesa, Argentina would be legally barred from making a June 30 coupon payment on its restructured bonds unless it pays $1.33 billion to holdouts seeking full payment of the debt they hold.

"We consider it essential that Judge Griesa issue a stay so that the republic of Argentina can continue paying the holders of restructured bonds," Economy Minister Axel Kicillof told reporters in Buenos Aires.
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http://www.todayonline.com/business/arge...ebt-crisis
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RE: Case study on Sovereign Debt (Argentina) - by CityFarmer - 24-06-2014, 10:01 AM

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