Friday, November 21, 2014

US judge Griesa calls Argentine Central Bank for hearing with holdouts

US Federal judge Thomas Griesa has summoned Argentine Central Bank representatives for a new audience on December 10.

President Cristina Fernández de Kirchner’s administration will seek a favourable ruling by magistrate Griesa, in an attempt to avoid an embargo on the country’s assets, following a request filed by the holdouts, or so called vulture funds.

The Central Bank delegation will be composed only by lawyers in representation of the country and the monetary entity as well; no government’s officials will be present. They will face Paul Singer’s NML and a second hedge fund named EM.

Griesa detailed the conditions of the audience which will include an oral exposition for the two sides: 10 minutes for the holdout’s lawyers and a similar amount of time for the Argentine part.

While the subpoena got public today, Central Bank sources unveiled to ámbito.com that they were notified weeks ago.