Pres. Cristina Fernandez said her government will move its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law.» Read More
NEW YORK, Aug 21- The U.S. judge who barred Argentina from servicing its debt until it settled with investors demanding full payment on their bonds scheduled a new hearing on Thursday, after the country unveiled plans to sidestep his ruling that led it to default for the second time in a dozen years.
NEW YORK, Aug 21- A U.S. investment fund pressing for full repayment on Argentine debt is urging a U.S. judge to consider declaring Argentina in contempt after Buenos Aires announced plans to skirt court rulings that pushed it into default.
WASHINGTON— Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds— $7 billion of it geared for consumer relief— offers a glint of hope for desperate homeowners. "It is certainly better than nothing," said Bruce Marks, chief executive of the nonprofit Neighborhood Assistance Corporation of America.
An acceleration could leave Argentina facing claims of up to $30 billion, more than the government holds in foreign reserves.
*Fed minutes say surprised about quick progress in U.S. job market. NEW YORK, Aug 20- U.S. "The Fed came out with a hawkish tone in its minutes and people's perception is that the Fed will move soon on rates," said Tom di Galoma, head of fixed income rates and credit trading at ED&F Man in New York.
BUENOS AIRES, Aug 20- Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, the economy minister said on Wednesday, adding it would be "madness" to pay holdout creditors 100 cents on the dollar.
NEW YORK, Aug 20- U.S. Looks like we are continuing that move ahead of the Fed minutes today, "said Ellis Phifer, market strategist at Raymond James in Memphis, Tennessee. Some of the Fed's counterparts at the Bank of England voted unexpectedly to raise interest rates this month, according to minutes of the BOE's policy meeting of Aug. 6-7.
Argentina slid into default last month after a New York court blocked an interest payment of $539 million owed to holders of debt that was restructured after the country's record 2002 default.
BUENOS AIRES, Aug 19- President Cristina Fernandez said on Tuesday her government will move to service its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law in order to get around a U.S. court order.
NEW YORK, Aug 19- Citigroup has told the U.S. appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff. Citi expects to receive about $5 million from Argentina ahead of its next coupon payment deadline of Sept. 30.
District Judge Thomas Griesa that Argentina cannot pay the bondholders until it also pays holdout investors who refused to restructure their debt in the wake of Argentina's 2001-2002 default.
Dollar weakness came even as tensions in the Ukraine were high. NATO accused the Kremlin on Friday of escalating the conflict, following reports that a small column of Russian armoured vehicles had crossed overnight into an area of Ukraine where pro- Moscow rebels are battling government forces. 1/ 8 ID: nL6N0QL20K 3/ 8.
NEW YORK, Aug 13- Argentine holdout creditor Aurelius Capital Management said on Wednesday that talks with many financial institutions about finding a private settlement solution to the sovereign debt dispute had garnered no realistic proposals.
U.S. District Court Judge Thomas Griesa, who has presided over the long-running legal battle, said in New York on Friday he would issue a contempt order unless Argentina stopped claiming it had met its obligations and was not in default.
BUENOS AIRES, Aug 13- Argentina came out swinging on Wednesday against the U.S. judge overseeing its debt default case, in defiance of a threatened contempt order, and disappointed market hopes it might soon restart talks with the hedge funds suing the country.
At the same time the major brokerages-- Bank of America's Merrill Lynch, Morgan Stanley, Wells Fargo and UBS-- are fighting to keep their money-making assets from walking out the door.
NEW YORK, Aug 12- Daniel Pollack, the court-appointed mediator in the debt dispute between Argentina and holdout creditors, who has come under fire from the Argentine government for his handling of the talks, expects to hold more meetings with both sides.
BUENOS AIRES, Aug 11- Argentina on Monday called on Washington to intervene in a court case over the country's defaulted debt after a U.S. district judge threatened the South American country with contempt for making what he called false statements.
BUENOS AIRES, Aug 11- Argentina on Monday called on Washington to intervene in a court case over the country's defaulted debt after a U.S. district judge threatened the South American country with contempt for making what he called false statements. In 2002 Argentina defaulted on about $100 billion in sovereign bonds.
NEW YORK/ BUENOS AIRES, Aug 8- The U.S. judge in Argentina's long-running debt battle with hedge funds threatened a contempt-of-court order on Friday if the nation did not stop issuing false statements about having made a required debt payment on restructured sovereign bonds.