The Wall Street Journal Argentina Says Holdout Case Will Go to Supreme Court If Needed

Debt Coverage:

 

Market Watch: “Another Argentina default a risk for investing there”

 

Bloomberg: “Lorenzino Says Holdouts Seek Default to Cash in CDS, Telam Says”

 

The Wall Street Journal: “Argentina Says Holdout Case Will Go to Supreme Court if Needed”

Market Watch

Another Argentina default a risk for investing there

 

Tuesday, November 20, 2012

 

If a U.S. court decision pushes Argentina to default on its debt (again), it would cause the country’s economy to shrink dramatically, analysts at Bank of America Merrill Lynch said.

 

Mind you, they don’t think a default is the most likely outcome, but unfortunately it’s again possible from the country that defaulted on around $100 billion in debt in 2001 — the biggest sovereign default at the time.

 

 

Bloomberg

Lorenzino Says Holdouts Seek Default to Cash in CDS, Telam Says

 

Tuesday, November 20, 2012

 

By Pablo Gonzalez

 

Holders of Argentine defaulted bonds are expecting the government to be declared in “technical default” amid a legal battle in the U.S. in order to cash in credit-default swaps, Argentine Economy Minister Hernan Lorenzino said, according to state news agency Telam.

 

 

The Wall Street Journal

Argentina Says Holdout Case Will Go to Supreme Court If Needed

 

Tuesday, November 20, 2012

 

By Shane Romig

 

BUENOS AIRES--Argentina will appeal a U.S. legal ruling in favor of holdout creditors all the way to the Supreme Court if needed, rather than accept a lower court ruling ordering it to pay the investors who refused discounted debt swap offers, Economy Minister Hernan Lorenzino told reporters Tuesday.

 

"We're going to continue defending Argentina's interests in every necessary instance, and that includes going before the U.S. Supreme Court, if necessary," Mr. Lorenzino said.