Friday, May 29, 2015

Griesa tells 'me too' bondholders to negotiate with appointed mediator

US district judge Thomas Griesa (file photo).

New York district judge Thomas Griesa headed a new hearing for holders of Argentine bonds who did not enter the debt swaps of 2005 and 2010, and who wish to secure full compensation for the titles defaulted on 14 years ago.

The 'me too' creditors, who did not make up the group of litigants led by hedge fund owner Paul Singer which obtained a favorable ruling from Griesa in their battle against Argentina, met with the judge today to make their case be included in the pari passu clause.

But Griesa avoided to make a decision on the matter, and instead told “me too” representatives to negotiate with appointed mediator special master Daniel Pollack in order to reach an agreement with Argentina.