Griesa imposed March deadline for claims by vulture funds

Griesa imposed March deadline for claims by vulture funds -

The judge in New York Thomas Griesa , endorsed the request made by the Argentine government to set the date March 2 as a stop for the presentations made to that court by bondholders that did not enter the debt swap implemented in 05 and 2010, so they can be included within the ruling that favored vulture funds in his claim against the country.
in addition, the law firm representing Argentina in US courts Cleary Gottlieb Steen & Hamilton yesterday sent another letter to the judge in which he called for the release to the payment of bonds under law Argentina held by Citibank which were frozen by order of that court and enabled partially several times in the form of "one-time".
in the 30-page document, the lawyer Carmine Boccuzzi rejected the request of the vulture funds that bonds under Argentina law Citibank remain blocked, noting that "prohibit payments to bondholders while the plaintiffs seek to resolve their claims with the Republic, it is unjustified and inequitable" .
Thus, vulture funds "simply they try to use the court to help them make even more money and do it at the expense of others, including beneficiaries of Argentina Bond Act and Citibank," argued Boccuzzi.
now in its regular contact with the press, the chief of staff Jorge Capitanich said that "it is necessary to resolve the underlying issue regarding the release of payments for those bondholders who are outside the New York law. "
Capitanich said that" if there is indeed the release of payments in Argentina legislation "and if the recent decision of the English justice to release low cancellations British law" is considered relevant regarding the decision judge Griesa, this would also imply the possibility of releasing payments to English law, that is outside New York. And that is what is expected in terms of decision judicial authority. "
As were the first concrete actions of the year in southern Manhattan court in making the dispute between Argentina and the vulture funds, Griesa yesterday gave rise to the order issued days ago by the study Cleary Gottlieb for the presentations made by holders of Argentine bonds in default under the modality called "me too" (me too) - that require the same conditions by the judge in the case with the funds NML Elliot, Aurelius and others have a time limit and that the deadline is March 2.
the ruling by Griesa in 2012 in favor of the vulture funds covered debt default for a nominal amount of approximately 1,300 million dollars in the last update -made middle of last year and exceeded 1,0 million.
the total number of "me too" that could be authorized by the New York judge to join the ruling that favored the vulture funds to be established and be known once close within the next month.
therefore, the number that would rise the claim of these creditors that did not exchange debt in 05 and 2010, nor litigated against the country, it is also not known yet.
However, some estimates put the final figure, with the "me too" included, could be at around 5,000 billion dollars.
a recent movements was the case this week, the first public statement by the mediator appointed by Griesa, attorney Daniel Pollack, who asked the court issued a summary of the actions carried out in joined so far this year.
as is clear from the statement issued by the so-called Special Master, the parties have not maintained in this new year and so far, further discussions on the negotiations of the case.
Pollack also noted vulture funds that invited the Argentine government to face negotiations without preconditions as regarding the method of payment, without there being far response from the authorities.

Source: Telam

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