Venezuela cancels $ 3,000 million corresponding to debt bonds

Nicolas Maduro’s government canceled 3,000 million dollars corresponding to the bonds of the state oil company PDVSA in 2014, which are due today, announced on Friday the Finance Minister Brigadier General Rodolfo Marco Torres. “We count on the total amount of...

Argentine Congress debates draft legislation to pay debt

The Argentine Congress began yesterday to discuss the draft Sovereign Payment Act, which proposes the Central Bank as fiduciary agent for creditors to collect their debts in Buenos Aires, rather than in New York. Economy Minister Axel Kicillof urged the Congress to support the...

Fintech Fund accepts debt swap under Argentine legislation

Fintech Advisory, one of the creditors in the case by the argentine debt, is willing to accept a swap of its restructured bonds under foreign law by other issued under Argentine legislation. David Martinez Guzman, head of the fund, said that the intention of the South American...

Argentina President seeks jurisdiction for the payment of debt

President Cristina Fernandez announced on August 19 that she will send to the Congress a draft law to put under the jurisdiction of Argentina all the sovereign debt titles, and thus circumvent the blockade of funds that the United States justice imposed to the South American...