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Dienstag, 2. Februar 2016

New York Court asks holders of Argentina sovereign bonds to identify themselves before 29 February

New York Court asks holders of Argentina sovereign bonds to identify themselves before 29 February

"Counsel representing classes of certain holders of defaulted Argentina's sovereign bonds today announced that US federal court in New York City has asked class members to identify themselves to class counsel as part of the process for the court to determine the total amount of damages owed to the classes.

In an announcement, counsel said that all beneficial holders of any bonds in any of the classes who have held any amount of bonds continuously from the “start date” through today are requested immediately to contact class counsel to obtain the Proof of Claim form that they can use to identify themselves and the amount of their class holdings. The deadline to send in Proof of Claim forms is 29 February.

The court has certified each lawsuit as a class action. The members of each class are beneficial holders of any amounts of the bonds who held the bonds as of the relevant starting date listed below (or earlier), and continuously hold at least some amount of that original holding through today.

1- Republic of Argentina 11% Global Notes due October 9, 2006 (ISIN code:US040114AN02) Starting date of holding (SDH) 16 January 2004

2- Republic of Argentina 7% Global Notes due December 19, 2008 (US040114GF14) SDH: 16 January 2004

3- Republic of Argentina 9.75% Global Notes Due September 19, 2027 (US040114AV28) SDH: 22 January 2004

4- Republic of Argentina 11.75% Global Notes Due June 15, 2015 (US040114GA27) SDH: 4 February 2004

5- Republic of Argentina 11% Global Notes Due December 5, 2005 (US040114AZ32) SDH: 4 February 2004

6- Republic of Argentina 8.375% Global Notes Due December 20, 2003 (US040114AH34) SDH: 10 February 2004

7- Republic of Argentina 12.375% Global Notes Due February 21, 2012 (US040114GD65) SDH: 17 March 2004

8- Republic of Argentina Floating Rate L+0.8125 Global Notes Due March 2005 (XS0043120582) SDH: 17 March 2004

9- Republic of Argentina European Medium Term Note Bond, 9.25% Due July 20, 2004 (XSO113833510) SDH: 19 December 2006

Bondholders who submitted “opt-out” notices or who have filed individual lawsuits or arbitrations should not submit a Proof of Claims form.

Information provided will be used only for this litigation and will not be filed in the public court records. The court may also request additional information at a later time.

Current bondholders who wish to remain in the classes and eventually be eligible to claim a share of any class recovery should not sell or transfer their bonds. Bonds that are sold or transferred will not be part of the classes.

Bondholders should not call or write to the court with questions about the Proof of Claim process, the announcement said.

In 2001, the Republic of Argentina defaulted on multiple series of global notes and bonds. Argentina has since failed to pay the principal and interest due on those bonds, the announcement noted.

Counsel said the court has already found that Argentina is liable to class members for unpaid principal and interest."

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