he government informs that local bondholders should be receiving payment “in due time and form”, and stressed that US Judge Griesa’s ruling “does not prevent the payment of bonds under Argentine law”.

Monday, July 7, 2014

'No third party’s 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.

“Argentina has a clear willingness to pay, it has deposited the pertinent funds and no third party’s judge is entitled to prevent bondholders from receiving payment,” the Kirchnerite official said in his daily press briefing at the Government House.

The Argentine Presidency published a two-pages newspaper ad detailing the situation of all restructured bondholders, those under Argentinean laws, the ones under English and Welsh laws, as well as those under US jurisdiction.

The government informs that local bondholders should be receiving payment “in due time and form”, and stressed that US Judge Griesa’s ruling “does not prevent the payment of bonds under Argentine law”.

The payment for bonds under foreign jurisdiction in turn should be distributed by the Bank of New York Mellon, as trustee, and payment agents and intermediary banks, the ad says.