Tuesday, July 1, 2014
'Vulture funds': Repsol, Paris Club models for Argentine agreement
One of the hedge funds involved in the lawsuit against the Argentine government over unrestructured debt has pointed to the agreements struck with Spanish petrol conglomerate Repsol and the Paris Club are good examples for the basis of an eventual pact.
If the Cristina Fernández de Kirchner administration fails to reach an understanding with the holdout investors, it could lead to the nation defaulting on debt owed to those who entered restructuring as a result of judge Thomas Griesa's refusal to authorise the payment.
"The structures of the agreements with Repsol and the Paris Club are very good models for how we could see a deal for unpaid bondholders," Jay Newman, accounts chief at Elliot Management, told CNBC today.
The US court system has ordered Argentina to pay 1.33 billion dollars to the holdouts, led by Elliott and Aurelius Capital Management, plus interest.
"In the Paris Club case, and this is very important and telling, Argentina, after more or less the same time as we have been dealing with our demands, recognised the Paris Club's total demand - principal, interest and penalties - and agreed to pay a part in cash and the majority in bonds," Newman added.
If the Cristina Fernández de Kirchner administration fails to reach an understanding with the holdout investors, it could lead to the nation defaulting on debt owed to those who entered restructuring as a result of judge Thomas Griesa's refusal to authorise the payment.
"The structures of the agreements with Repsol and the Paris Club are very good models for how we could see a deal for unpaid bondholders," Jay Newman, accounts chief at Elliot Management, told CNBC today.
The US court system has ordered Argentina to pay 1.33 billion dollars to the holdouts, led by Elliott and Aurelius Capital Management, plus interest.
"In the Paris Club case, and this is very important and telling, Argentina, after more or less the same time as we have been dealing with our demands, recognised the Paris Club's total demand - principal, interest and penalties - and agreed to pay a part in cash and the majority in bonds," Newman added.
was macht denn unsere Oberpfeife von jack, jack11, sarah1 bei solchen wichtigen entwicklungen.....man hört ja garnichts von im dabei ist er doch so begierig Mandanten an Land zu ziehen.....
AntwortenLöschenWas ist los , Rolf ?
LöschenAngst vor der nächsten einstweiligen Verfügung ?
Lol.
du must mein Blog aber sehr aufmerksam verfolgen das du sozusagen minütlich reagierst....das ist doch schon fast ein über-ich für dich....und stinken dir die fast 1.000 hits täglich....oh wie schön wenn ich da meine mandantenkeilerei plazieren könnte....das würde mir honorare ohne ende einspielen.....
AntwortenLöschen