250% Gewinn mit CHF-Bond Griechenlands ?

(auf die Risiken sei ausdrücklich hingewiesen!!!)

Der CHF-Bond Griechenlands handelte heut unter nennenswerten Umsätzen um 40. Die jetzt verschwundenen greek-law Bonds wurden zuletzt unter 20 gehandelt.
Umsätze und Preis sprechen dafür, dass das Quorum von 66 2/3 % in der Einschätzung der Käufer nicht erreicht wird und der Bond mitte 2013 zu 100% getilgt wird. Ich werde in Zürich sein um am Bondholdermeeting teilzunehmen.

2.125 GRI 05-13 (GRI05/CH0021839524)

15.03.2012

Time Price Volume
15:20:19 38 60000
15:11:26 38.2 60000
14:55:48 40 60000
13:54:53 38.2 15000
11:43:49 38.2 10000
11:17:56 38 40000
11:15:21 38 100000
11:00:21 39.2 10000
10:50:10 39.2 10000
10:13:14 39.13 50000
09:57:19 39.07 50000
09:31:35 37 5000

GRI05 an der SIX Zürich

Zur rechtlichen Situation dieses Bonds (leider etwas juristisch - boilerplate - ) aus dem Prospectus o.g. Bondes

The Permanent Global Certificate remains in safekeeping with SIS SEGAINTERSETTLE AG (“SIS”),
the Swiss Securities Services Corporation, or any other collective safecustody organization approved
by the SWX Swiss Exchange, during the entire duration of the issue and until the complete redemption
of the Bonds.

also: kein Book Entry System wie bei BOG (Bank of Greece) wo die alten greeklaw bonds jetzt einfach verschwunden sind, was die rechtliche Durchsetzung unserer Forderungen erschwert.

7. Status of the Bonds and Negative Pledge

The Bonds and Coupons constitute direct, general, unconditional, unsubordinated and, subject this Section,
unsecured obligations of the Borrower. The Bonds rank pari passu with all other unsecured and unsubordinated
obligations of the Borrower outstanding on July 5, 2005 or issued thereafter without any preference
granted by the Borrower to one above the other by reason of priority of date of issue, currency of payment,
or otherwise. The due and punctual payment of the Bonds and the performance of the obligations of the
Borrower with respect thereto is backed by the full faith and credit of the Borrower.
So long as any Bond remains outstanding, the Borrower shall not create or permit to subsist any mortgage,
pledge, lien or charge upon any of its present or future revenues, properties or assets to secure any External
Indebtedness, unless the Bonds shall also be secured by such mortgage, pledge, lien or charge equally and
rateably with such External Indebtedness or by such other security as may be apporoved by an Extraordinary
Resolution of the Bondholders (as described in Section 14).
“External Indebtedness” means existing and future indebtedness for borrowed money of the Borrower or the
Bank of Greece (which in the case of the Bank of Greece was incurred on or before December 31, 1993 for
or on behalf of, or for the purposes of lending or assigning an amount equal to all or part of such indebtedness
(whether or not in the currency of such indebtedness) to, the Borrower) expressed or payable or optionally
payable in a currency other than the lawful currency of the Borrower (including any guarantees given by
the Borrower of any existing or future indebtedness for borrowed money of any other person which indebtedness
is expressed or payable or optionally payable in a currency other than the lawful currency of the
Borrower).

knackige pari passu clause auch und gerade was die Verpflichtungen zur Zahlung betrifft.

Wer mich kennt, weiss das ich mich mit diesem Covenant seit Jahren intensiv beschäftige. Das Urteil aus NY vom 23.2.2012 (NML - Elliott - vs Rep Argentina)hat gerade die Durchsetzung von Forderungen vs Sovereigns erheblich verbessert (Der Abwicklungs und Zahlkette wurde die Annahme von Zahlungen und deren Weiterleitung an die Umschuldungsbondinhaber verboten, wenn nicht pro rata (pari passu) an die ligitanten Altgläubiger gezahlt wird).

13. Governing Law and Jurisdiction

The Terms of the Bonds and form of the Permanent Global Certificate, the Bonds and the Coupons shall be
subject to and governed by Swiss law.
Any dispute which might arise between Bondholders and/or Couponholders on the one hand and the
Borrower on the other hand regarding the Terms of the Bonds, the Permanent Global Certificate, the Bonds
and/or the Coupons shall be settled in accordance with Swiss law and falls within the jurisdiction of the
Commercial Court of the Canton of Zurich, the place of jurisdiction being Zurich 1. The Borrower designates
Credit Suisse as its representative for service of judicial documents pursuant to paragraph 30 of the Rules
of Civil Procedure of the Canton of Zurich, an elects legal and special domicile pursuant to article 50 of the
Swiss Act on Debt Enforcement and Bankruptcy at the offices of Credit Suisse, Uetlibergstrasse 231, 8045
Zurich, Switzerland. Credit Suisse undertakes to transmit to the Borrower as soon as possible any notice
received by Credit Suisse in this connection.

knackiges Recht und knackiger Gerichtsstand. Zürich ist wohl eine sehr teure Stadt aber sehr schön und kapitalfreundlich...ich bin gerne dort...