Friday, May 8, 2015

Kicillof says gov't to file complaint against NML for Belgium seizure attempt

Economy Minister Axel Kicillof renewed the government''s condemnation of so called ''vulture'' funds seeking to seize country''s ''sovereign goods.''

Economy Minister Axel Kicillof confirmed the government will be filing a complaint against vulture funds for seeking to seize the accounts of the Argentine embassy in Belgium, adding hedge funds are the most “despicable and repugnant” of the world financial system.

In statements to the Del Plata radio station, the minister today questioned NML Capital that sought to confiscate the bank accounts of Argentina’s embassy in Brussels and of diplomats there.

“Argentina will not kneel facing the pressures of vulture funds. (NML Capital) has made another show-off in Belgium, because they can not seize sovereign goods. It has been another pitiful advertising manuever,” Kicillof told reporters.

“We will denounce vultures over this matter because they are the most despicable and repugnant (thing) there can exist in the international financial system. Almost no one in the world puts up with them anymore."

Argentina is facing a billionaire dispute against so called "vulture" funds suing the country over its defaulted bonds more than a decade ago.

The Cristina Fernández de Kirchner administration has repeatedly refused to comply with a ruling by US Judge Thomas Griesa ordering Buenos Aires to pay NML Capital and other holdouts in full, ratifying the government’s position it will not fail on the debt restructuring agreements reached with the majority of Argentina’s creditors back in 2005 and 2010, calling instead for a "fair" deal