U.S. judge urges Argentina to settle bond litigation

[Judi Lynn]

Source: Associated Press

U.S. judge urges Argentina to settle bond litigation
Thu Dec 17, 2015 5:10pm EST
NEW YORK | By Nate Raymond

Dec 17 A U.S. judge on Wednesday urged Argentina to resolve bondholder litigation stemming from its $100 billion default in 2002, in his first remarks on settlement talks following the South American nation's election of a new president.

At a court hearing in Manhattan, U.S. District Judge Thomas Griesa urged Argentina and creditors suing over defaulted bonds to "make some attempt at that direction" after years of litigation that led the country to default again last year.

Griesa made no reference to the Nov. 22 election that brought to power Argentine President Mauricio Macri, who has it a priority to settle the dispute with creditors who rejected the terms of the country's 2005 and 2010 bond restructurings a priority.

But Griesa said he wanted to put "some emphasis on the need to work on as prompt a resolution to this litigation as possible," noting the dispute had been ongoing for "a very long time."

Read more: http://www.reuters.com/article/argentina-debt-idUSL1N1462TO20151217?rpc=401

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U.S. District Judge Thomas Griesa













Signs in Argentina.

Why wasn't Judge Griesa at the Macri Inauguration? [/center]

[mpcamb]

1. Jusdge Griesa is 85.

The article talks generally about the debt. No mention is made about Vulture hedge funds. Some of the creditors turned down a 93% payment when Argentina was financially strapped and are trying to collect 3000% (yeah, Three Thousand Percent) on the original bonds.

https://en.wikipedia.org/wiki/Argentine_debt_restructuring


Griesa is a Nixon appointee.
...my 2 centavos.

[newthinking]

2. Yep, the real story is about greed and disaster capitalism

I am not surprised it gets reported without all the facts.