Debt Coverage:
France 24 (AFP): “Argentina stands firm on refusing to pay bond holdouts”
Buenos Aires Herald: “Argentina stands by refusal to pay holdouts”
MercoPress: “Argentina urges ‘workable’ solution from US appeals court to dispute with holdout bondholders”
France24 (AFP)
Thursday, February 28, 2013
AFP - Argentina clashed in a US appeals court with holdout bondholders demanding a $1.3 billion payment, triggering fears that the country could witness a repeat of its huge 2001 debt default.
In a sign of the importance of the hearing for Buenos Aires, Economy Minister Hernan Lorenzino and President Cristina Kirchner's vice president, Amado Boudou, were in attendance in the packed New York courtroom to hear the arguments from lawyers representing Argentina, holdout creditors and other parties.
Buenos Aires Herald
Thursday, February 28, 2013
The national government signalled to a US appeals court it would not comply with any demand that it fully pays a group of dissident bondholders, in a showdown that has sparked fears the country could suffer its second massive debt default in 11 years.
The Second US Circuit Court of Appeals in New York yesterday heard more than two hours of arguments from lawyers for Argentina, the so-called holdout investors and other parties in the closely watched case, but it made no immediate ruling. The court is weighing whether to reverse an order that the Argentine government pay US$1.3 billion to the holdouts.
MercoPress
Thursday, February 28, 2013
“We're trying to persuade the court to do something which is workable and doesn't create a terrible confrontation,” the lawyer, Jonathan Blackman, said during oral arguments before the 2nd US Circuit Court of Appeals in New York.
He also said that the country would not “voluntarily obey” an order to pay holdout bondholders in full.
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