The new hearing granted by US District Judge Thomas Griesa between the legal representatives of Argentina and so called “vulture” funds on payments of the Bonar 2024 bonds has ended.

Wednesday, August 12, 2015

Griesa sanctions Argentina for failing to fulfill Discovery

US District Court Judge Thomas Griesa has granted ''vulture'' funds a new hearing, this time in a move by the hedge funds to block the Bonar 2024 bonds.

The new hearing granted by US District Judge Thomas Griesa between the legal representatives of Argentina and so called “vulture” funds on payments of the Bonar 2024 bonds has ended.

The meeting started at 3 pm Buenos Aires time, with New York Judge Griesa giving a green light to a request by the Aurelius hedge fund targeting US$1.4 billion in Bonar 2024 bonds.

The Cristina Fernández de Kirchner administration has repeatedly argued the bonds are exempt because they were issued domestically, rejecting they can be made subject to a 2012 ruling by Griesa ordering Buenos Aires to pay hedge funds for its defaulted bonds more than a decade ago in full, a demand that accounts for US$1.35 billion plus interests.