Arab Today, arab today us court ruling on argentine debt violates international law
Last Updated : GMT 08:47:17
Arab Today, arab today
Arab Today, arab today

US court ruling on Argentine debt violates international law

Arab Today, arab today

Arab Today, arab today US court ruling on Argentine debt violates international law

Argentina's Economy Minister Axel Kicillof
Buenos Aires - AFP

Argentina on Monday slammed as illegal a US judge's ruling finding it in contempt of court on its debt payments.
"The ruling by Judge Thomas Griesa saying that the Argentine Republic is in contempt of court, violates international law, the UN Charter, and the OAS charter," a foreign ministry statement said, referring to the Organization of American States.
Griesa, in New York, earlier on Monday said Buenos Aires had acted illegally to avoid his orders to first pay off hedge funds that sued the country for full payment on their bonds.
Earlier this year, Griesa banned Argentina from making payments on restructured bonds -- debt from its 2001 default -- without first paying the hedge funds, NML Capital and Aurelius Capital Management.
The two firms hold some $1.3 billion worth of Argentine bonds scooped up at huge discounts after the default.
They refused to take part in the restructuring with the majority of creditors, and instead have sought full payment on the bonds.
Argentina, however, has refused to pay what it slams as "vulture funds," and Griesa's effective block on paying the other creditors forced the country into a new default at the end of July.
Since then, the government has passed new domestic legislation aiming to transfer its bond contracts away from US jurisdiction to Argentine jurisdiction, so that they could make the payments.
Buenos Aires since then announced its plan to fire the official trustee for most of its debt payments, Bank of New York Mellon, which Griesa had ordered not to transfer any funds to the country's creditors.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us court ruling on argentine debt violates international law Arab Today, arab today us court ruling on argentine debt violates international law

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us court ruling on argentine debt violates international law Arab Today, arab today us court ruling on argentine debt violates international law

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday