said hedge funds NML Capital and Aurelius in its filing with the Court of Appeals of New York. "The court order was in no way an abuse of discretion and should be affirmed," added the funds in its presentation of 30 pages, delivered three days before the April 22 deadline set by a panel of three federal judges on appeal earlier this month.

They must respond by April 22

Vulture Funds rejected the proposal of Argentina in New York

The funds "vultures" Friday rejected U.S. courts payment proposal in the trial Argentina defaulted bonds from 2001 , requiring compliance with the ruling that requires the country to pay 1.330 billion of principal and interest due. " Argentina Years challenge can not be cured with a twisted bid to give further plaintiffs Argentina bonds cents worth " , said hedge funds NML Capital and Aurelius in its filing with the Court of Appeals of New York. "The court order was in no way an abuse of discretion and should be affirmed," added the funds in its presentation of 30 pages, delivered three days before the April 22 deadline set by a panel of three federal judges on appeal earlier this month. The Court of Appeals affirmed Nuea York late last year a federal judge's order to Thomas Griesa NML Capital and Aurelius immediately charged in one payment and 1,330 million dollars of principal and interest owed by Argentina for defaulted bonds from 2001. Beset by these two adverse rulings that threaten to cause new Argentina debt default, the Argentine government offered in late March to funds known as "vultures" a payment in same conditions of the exchange in 2010. Argentina restructured over 92% of its defaulted bonds in two swaps in 2005 and 2010 at a discount of about 70% in nominal value of the securities and new maturities of between 28 and 33 years. To comply with clause of 'pari passu' established by the judge Grisea involving fairness to all creditors, the country included in its proposal the choice of a discount bond maturing in 2033 and an interest rate of 8.28% also promise to pay interest fallen since 2003. NML Capital and Aurelius But in his response indicated that the proposal Friday Argentina "just goes to show that does not respect its obligations voluntarily or by law." After this presentation of funds risk, the court may be issued at any time from now. 's government has warned it would not accept an unfavorable ruling requiring it to pay 100% of what is owed, at the risk of unmanageable increase of up to 43,000 million dollars in debt for possible claims of bondholders that swaps entered and will be slightly affected. Moreover, U.S. courts could seize the funds drawn by Argentina to the Bank of New York, the paying agent for the notes, forcing it to seek Pay another venue to avoid a second default. Both parties may try to bring the case before the U.S. Supreme Court.

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