Friday, June 5, 2015

'The conflict with vultures will continue for at least a decade'

Lee Buchheit, one of the lawyers that represent Argentina in the ongoing conflict with holdouts.

Lee Buchheit, one of the lawyers from the firm Cleary, Gottlieb, Steen and Hamilton that represent Argentina in the ongoing conflict with holdout investors, has said the dispute between the South American country and so called “vulture funds” is bound to continue for years.

“There will be future problems with the restructuring of Argentine debt. The conflict with vultures will continue for at least a decade,” Buchheit said during a conference held in Buenos Aires city, according to ambito.com.

Speaking from the Banking and Financial Summit 2015, Buchheit also questioned New York judge Thomas Griesa’s decision to rule in favor of “vulture funds”.

“In 2012, holdouts were able to convince US Justice that the 'pari passu' clause meant Argentina was obliged to pay. That decision, from my point of view, was a mistake,” he said.