The Economy Ministry today denounced New York judge Thomas Griesa has benefited “vulture funds” during negotiations over Argentina's defaulted debt with holdouts and asked the National Value Commission (CNV) to start an investigation over alleged “speculative moves”.

Friday, August 1, 2014

Gov’t to investigate ‘speculative moves’ in ‘vulture case’

The Economy Ministry today denounced New York judge Thomas Griesa has benefited “vulture funds” during negotiations over Argentina's defaulted debt with holdouts and asked the National Value Commission (CNV) to start an investigation over alleged “speculative moves”.

“The judge’s attitude towards the case so far reveals he does not intend to build equal conditions between the parts, but looks to favor vulture funds instead,” a press release by the Economy Ministry reads.

The Ministry asked the CNV to solicit information on Argentine bond exchanges to the US Securities and Exchange Commission (SEC).

“We ask to investigate if this trial is in fact a façade to hide a speculative move,” the press release concludes