January 23, 2018
Tuesday, July 22, 2014

Gov't says 'Argentina needs stay to honour its commitments'

Before the hearing held in New York today, Cabinet Chief Jorge Capitanich reiterated the importance of the suspension of Griesa’s ruling requested by Argentina.

“We need the stay in order to prevent the implementation of RUFO clause,” he said in reference to the Right Upon Future Offers stipulation that specifies that if the holdout hedge funds receive a better payment than the restructured bondholders, these can demand similar conditions.

The Kirchnerite official explained that Argentina’s lawyers presentation before Griesa will stress the “systemic effects” of the RUFO clause if applied. “It would entail 320 to 350 billion dollars in possible lawsuits against Argentina,” Capitanich said. “We need the stay in order to honour legal dispositions,” he reiterated.

Capitanich stressed once again the government’s willingness to pay and to negotiate with the so-called vulture funds. “Argentina encourages a dialogue that creates fair, equitable, legal and sustainable conditions for the 100% of bondholders,” he stated.

"Argentina has deposited the payment [to restructured bondholders]," he added.


  • CommentComment
  • Increase font size Decrease font sizeSize
  • Email article
  • Print
  • Share
    1. Vote
    2. Not interesting Little interesting Interesting Very interesting Indispensable
Tags:  Capitanich  vulture funds  Griesa  meeting  stay  request  RUFO  Argentina  

  • Comment
  • Increase font size Decrease font size
  • mail
  • Print



    ámbito financiero    ambito.com    Docsalud    AlRugby.com    

Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia