Argentina asks US appeals court to reverse Griesa's contempt ruling

Argentina asked the federal appeals court in New York to reverse Judge Thomas Griesa's ruling which said Argentina was in civil contempt of his orders for working on a plan to shift control over payments of its restructured debt to Buenos Aires, according to a court filing yesterday and reported by international news agencies today.

US District Judge Thomas P. Griesa in September cited Republic officials for wrongly trying to replace Bank of New York Mellon with Nacion Fideicomisos SA as indenture trustee.

US judge Thomas Griesa declares Argentina in contempt of court, monetary fine decision postponed

New York district judge Thomas Griesa has declared Argentina in contempt of court, due to the nation's actions in attempting to change debt jurisdictions as a result of the ongoing judicial conflict with holdout investors presided over by the US magistrate.

The justice deferred the imposition of financial penalties worth up to 50,000 dollars a day for a later date.

"Argentina is under speculative attack" (Cabinet Chief Jorge Capitanich)

After the US dollar informal rate broke a new record yesterday, advancing 22 cents to 14.20 pesos, Cabinet Chief Jorge Capitanich accused vulture funds of carrying out “speculative attacks against the (peso) currency” to “systematically erode the government’s credibility and trust.”
The chief of ministers pointed out that the vulture funds act through “powerful international lobbies” and local “opposition leaders, unions and concentrated media groups” to carry out “insidious attacks” against President Kirchner and her government.

Argentina: Government denies China blocks loans because of default

Cabinet Chief Jorge Capitanich rejected media reports that China is demanding Argentina to get out of default before it approves millionaire infrastructure credits to finance the Néstor Kirchner and Jorge Cepernic dam in Santa Cruz.

“The Chinese president completely backed Argentina’s stance against the vulture funds,” the chief of ministers said in his daily press briefing at government house. “None of this is hindering credit granting,” he added in reference to the country’s ongoing battle against its holdout creditors.

US Judge Griesa schedules new hearing for today after holdouts claim Argentina ignored court orders

US District Judge Thomas Griesa will lead a new hearing today on Argentina's debt case at 4 pm (Argentine time) after a holdout group claimed Argentina is ignoring his prior orders.

In a letter to the judge filed late yesterday, NML Capital Ltd said the measures announced by President Cristina Fernandez on Tuesday were a "grave affront" on Griesa's ruling.

Buenos Aires moves to pay bondholders in Argentina (Cristina Fernández de Kirchner)

BUENOS AIRES: Buenos Aires on Tuesday (Aug 20) moved to pay bondholders domestically after a US bank left it unable to do so, President Cristina Kirchner said.
"To protect the payments to bondholders who took part in the 2005 and 2010 debt swaps, we are designating the (state) Banco Nacion Trust as a replacement for Bank of New York Mellon, however the bondholders decide (to take payment), voluntarily," Kirchner said in a televised address.
In July, US Judge Thomas Griesa ordered a freeze on some Argentine payments until Buenos Aires simultaneously pays off the hedge funds which sued the country to demand payment on their bonds.

Argentina blames US, denies default claims. (“If there’s a judge who’s an agent of these speculative funds, if the mediator is....")

Argentina blames the United States for the legal battle that forced it to miss a debt payment and, despite ratings agencies’ declarations to the contrary, denied being in default.

Ratings agency Fitch declared Argentina in “restrictive default” July 31 after 11th-hour talks failed to resolve the country’s dispute with two U.S. hedge funds that refuse to accept a write-down on their Argentine bonds.

Fitch’s label echoed the “selective default” declared Wednesday by Standard & Poor’s. Both terms indicate that Argentina has defaulted on one or more of its financial commitments but continues to meet others.

Argentina set for turmoil as debt talks fail (Talks in New York aimed at averting second default in 13 years)

Talks in New York aimed at averting Argentina's second default in 13 years have ended with bitter recriminations as Buenos Aires said it could not accept a deal with US hedge fund creditors it dismisses as "vultures."

Court-appointed mediator Daniel Pollack said the failure triggered an imminent default that, among other things, would hurt the Argentine economy as well as bondholders who were not part of the dispute.

"The full consequences of default are not predictable, but they are certainly not positive," Pollack said.

Αργεντινή: Εκβιασμός η απόφαση για τα funds, δεν θα χρεοκοπήσουμε

Τα hedge funds μπορούν να πάρουν πληροφορίες για περιουσιακά στοιχεία του αργεντινικού δημοσίου σε αμερικανικές τράπεζες...
 
Αρνείται η Αργεντινή να «υποκύψει στον εκβιασμό», όπως τον χαρακτηρίζει η πρόεδρός της Κριστίνα Φερνάντες ντε Κίρσνερ, για πλήρη αποπληρωμή σε δύο κερδοσκοπικά fund μετά την άρνηση του Ανώτατου Δικαστηρίου των ΗΠΑ να εξετάσει έφεση επί της υπόθεσης.

Acuerdo con España por la expropiación de YPF

El convenio implica "el monto de la compensación y su pago con activos líquidos y que ambas partes desistirán de las acciones legales en curso". De la negociación participó el ministro de Industria español, que llegó a Buenos Aires acompañado de funcionarios de Repsol y La Caixa, una de las accionistas de la petrolera ibérica.

Los gobiernos de Argentina, España y México arribaron a un principio de acuerdo acerca de la compensación por la expropiación del 51 por ciento del paquete accionario de YPF ocurrida en abril de 2012, sujeto a ratificación de las máximas autoridades de Repsol, informaron fuentes del Ministerio de Economía.

Armenian community members in Argentina protest against Istanbul/Constantinople 2020 bid

Photo: Reuters

Members of the Armenian community in Argentina protested over the presence of Turkish Prime Minister Tayyip Erdoğan at the International Olympic Committee (IOC) session for the presentation of Istanbul/Constantinople as candidate to host the 2020 Summer Olympic Games.

Demonstrators gathered outside the meeting venue in Buenos Aires Sept. 7, holding banners that read 'No to Istanbul 2020.'

The group also held the pictures of the slain Turkish journalist of Armenian origins Hrant Dink. The renowned chief editor of Agos, was shot in front of his office in Istanbul on Jan. 19, 2007.