Monday, September 22, 2014
Judge Griesa orders new hearing after Citibank requests payment stay
New York district judge Thomas Griesa has called a new hearing this Friday, after Citibank requested an injunction in order to honour a payment on Argentine bonds held under local legislation and in foreign currency.
Last Friday the judge clarified that whatever decision he made would take into account the fact that titles under Argentine law "have a completely different treatment to those bonds under foreign law," referring to the ruling Griesa previously handed down blocking payment to the holders of bonds restructured in 2005 and 2010.
This could be a signal that the blockade on Argentina's debt commitments could be partially lifted, following the decision of the New York Second District Appeals Court to declare itself incompetent to rule on Citibank's appeal, returning the case to Griesa.
Last Friday the judge clarified that whatever decision he made would take into account the fact that titles under Argentine law "have a completely different treatment to those bonds under foreign law," referring to the ruling Griesa previously handed down blocking payment to the holders of bonds restructured in 2005 and 2010.
This could be a signal that the blockade on Argentina's debt commitments could be partially lifted, following the decision of the New York Second District Appeals Court to declare itself incompetent to rule on Citibank's appeal, returning the case to Griesa.
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