UN Human Rights Council adopts condemnation against “vulture funds”

The Human Rights Council of the UN adopted this Friday in Geneva a resolution condemning the “vulture funds” promoted by Argentina, which maintains a legal battle with the hedge fund possessors of sovereign debt default. The resolution was adopted by 33 votes in...

Assange reveals that USA is penalizing Argentina with vulture funds

The WikiLeaks founder, Julian Assange, assured that the USA support to the investment funds that require 1,600 million from Argentina, seeks to set a precedent for American companies to seize assets of foreign governments. This, he said, “creates a genuine incentive for...

Debt payment venue is changed by Argentine Senate

On yesterday midnight, the Argentine Senate approved a change of venue to pay their New York debt in Buenos Aires, through a bill that includes Paris as alternative venue. The decision was taken as a measure that seeks to bring the country out of the selective default avoiding...

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...

Negotiations for the purchase of argentine debt fail

The rapprochement between hedge funds NML, Aurelius and a group of Argentine banks failed in an attempt to buy part of the defaulted debt. “None of the proposals we received was even remotely acceptable,” Aurelius said. The banks involved were Citigroup, Deutsche...

Argentina prepares actions against vulture funds

Argentina will initiate actions so that “fraudulent insurance against default” be investigated by the National Securities Commission. This was announced by Cabinet Chief Jorge Capitanich specifying that could have existed “mechanisms inside information”...

Argentina faces an uncertain future

The current default of the Government of the Argentinean President Cristina Kirchner, may bring down the laborious exchange operations after failing to agree on 7% of the vulture funds. “Between 2005 and 2010 there was an effective reduction of the debt of the private...

Argentinean Government lashes out against Griesa

The Government of Argentina accused yesterday, August 2, the American Federal Judge Thomas Griesa of immobility “to benefit the vulture funds” and reported that they will investigate the existence of a “possible millionaire scam ” to charge insurance...
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