Friday, November 7, 2014

Gov't ratifies debt negotitations must be fair, legal

Cabinet Chief Jorge Capitanich answers to reporters'' queries at the government house.

Cabinet Chief Jorge Capitanich has downplayed a new demand filed by the Bracebridge fund in a New York court, ratifying the government’s official position which is to negotiate with 100 percent of creditors.

“The position of Argentina was always the same. We pretend fair, equitable, legal and sustainable conditions for 100 percent of bondholders. Today we have 92.4 percent (that) agreeing with us,” the head of ministers said this morning during his daily briefing to the press at the Casa Rosada presidential palace.

“Negotiation conditions must be met for the universe of those (bondholders) which have not joined (the debt restructurings),” Capitanich stated when queried about a recent action filed by Bracebridge at the court commanded by New York Judge Thomas Griesa, expecting to collect their money just like Griesa ordered Argentina to pay other speculative groups, eventhough they decided to not join the debt restructuring processes carried out by Argentina back in 2005 and 2010.

With the Bracebridge claim, Argentina would already have to pay 4 billion dollars, already considering Paul Singer’s 1.6-billion-dollar demand.

This group from Cambridge followed another filing by EM Limited commanded by Kenneth Darth that demands an 835-million-dollar payment. A month ago, another group of 11 bondholders made a similar move