News / Americas

Judge Criticizes Argentina for 'Half-truths' at Hearing

Attorneys Jonathan Blackman (L) and Carmine Boccuzzi (C), lead lawyers representing Argentina in its ongoing debt talks, arrive at federal court for a hearing in New York, August 1, 2014.
Attorneys Jonathan Blackman (L) and Carmine Boccuzzi (C), lead lawyers representing Argentina in its ongoing debt talks, arrive at federal court for a hearing in New York, August 1, 2014.
Reuters

U.S. District Judge Thomas Griesa, in a stern tone, on Friday criticized Argentina's decision to default on $29 billion in debt earlier in the week rather than pay holdout investors as ordered.

In a court hearing, Griesa told lawyers for Cleary Gottlieb, which represents Argentina, to “take steps to stop the misleading information being released by the Republic” regarding the battle between investors and the country. Elected officials in the South American nation have repeatedly stated that they had met their debt obligations, which Griesa said was a “half truth.”

“The republic has issued public statements that have been highly misleading, and that has to be stopped,” he said.

Griesa had ordered the nation to pay $1.33 billion plus interest to NML Capital, a unit of Elliott Management Corp, and Aurelius Capital Management, the two leading U.S. hedge funds who were not among those who agreed to accept new bonds after the nation defaulted in 2002.

Argentina argues that by depositing $539 million for a scheduled June 30 coupon payment at the Central Bank of Argentina in the account of Bank of New York Mellon, the trustee, that it had satisfied its obligation to pay its debts. Griesa had ordered BNY Mellon not to transfer that money to bondholders that exchanged debt in 2005 and 2010.

“Half-truths are not the same as the truth,” he said in court on Friday.

The hearing was called to “clarify where we go from here,” Griesa said, saying that “what occurred this week did not extinguish or reduce the obligations of the Republic of Argentina.”   

You May Like

Hong Kong Democracy Calls Spread to Macau

Macau and Hong Kong are China’s two 'special administrative regions' which gives them a measure of autonomy More

After Nearly 2 Years, Pistorius Remains Elusive

Reporter Anita Powell reflects on her experience covering the Olympic athlete's murder trial More

Kenyan Coastal Town Struggles With Deadly June Attacks

Three months after al-Shabab militants allegedly attacked their town, some Mpeketoni residents are still bitter, question who was really behind the assaults More

This forum has been closed.
Comment Sorting
Comments
     
by: Raymond Ghiutz Murdock
August 01, 2014 3:55 PM
THE BEST HISTORY OF WASH MONEY?
Strategic distraction serves always maneuvers economy larger history to make a great business, while others are preoccupied with issues of Ukranie, Gaza, immigrants, etc. greater wash money history came to an end and without many risks for those who developed a decidedly brilliant plan to endorse U.S. jurisprudence.UU. These procedures which by its obvious which were only written in capital letters or with inflation that might be in the mind of an upset indexes. But it's what comes operandose in different parts of the world under strict networks or organized systems of financial speculation with expertise in tax havens. Would that wonder how many involved in this conspiracy of fraudulent making tax-free money changes many banks, financial, etc. A necessary and a necessary situation default leads to a ruse and better large sums of money to temporarily be seen without difficulty by different controls found what they were looking for with the support of a trap in his own profession judge to administer justice Thomas. Griesa leaving in the hands of his own arbitreo insurance that is could be order, but as the saying goes: to the best Hunter functionment sure that escape you the Hare; or the you might have cheated on their own noses.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Obama to Ramp Up Anti-Ebola Efforts in Africai
X
Luis Ramirez
September 15, 2014 11:01 PM
President Barack Obama on Tuesday will unveil his plan to ramp up efforts against the spread of the Ebola virus in Africa. VOA White House Correspondent Luis Ramirez reports.
Video

Video Obama to Ramp Up Anti-Ebola Efforts in Africa

President Barack Obama on Tuesday will unveil his plan to ramp up efforts against the spread of the Ebola virus in Africa. VOA White House Correspondent Luis Ramirez reports.
Video

Video West Trades Accusations Over Ransoms

As world leaders try to forge a common response to the threat posed by Islamic State militants in Iraq and Syria, there is simmering tension over differing policies on paying ransoms. In the past month, the jihadist group has beheaded two Americans and one Briton. Both countries refuse to pay ransom money. As Henry Ridgwell reports for VOA from London, there is uncertainty in the approach of some other European nations.
Video

Video Scotland Independence Bid Stokes Global Interest

The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.
Video

Video Washington DC Mural Artists Help Beautify City

Like many cities, Washington has a graffiti problem. Buildings and homes, especially in low-income neighborhoods, are often targets of illegal artwork. But as we hear from VOA’s Julie Taboh, officials in the nation's capital have come up with an innovative program that uses the talents of local artists to beautify the city.
Video

Video US Muslim Leaders Condemn Islamic State

Leaders of America's Muslim community are condemning the violent extremism of the Islamic State group in Iraq and Syria. The U.S. Muslim leaders say militants are exploiting their faith in a failed effort to justify violent extremism. VOA correspondent Meredith Buel reports.
Video

Video Americans' Reaction Mixed on Obama Strategy for Islamic State Militants

President Barack Obama’s televised speech on how the United States plans to “degrade and destroy” the group known as the Islamic State reached a prime-time audience of millions. And it came as Americans appear more willing to embrace a bolder, tougher approach to foreign policy. VOA producer Katherine Gypson and reporter Jeff Seldin have this report from Washington.
Video

Video Authorities Allege LA Fashion Industry-Cartel Ties

U.S. officials say they have broken up crime rings that funneled tens of millions of dollars from Mexican drug cartels through fashion businesses in Los Angeles. Mike O'Sullivan reports that authorities announced nine arrests, as 1,000 law enforcement agents fanned out through the city on Wednesday.
Video

Video Bedouin Woman Runs Successful Business in Palestinian City

A Bedouin woman is breaking social taboos by running a successful vacation resort in the Palestinian town of Jericho. Bedouins are a sub-group of Arabs known for their semi-nomadic lifestyle. Zlatica Hoke says the resort in the West Bank's Jordan Valley is a model of success for women in the region.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid

More Americas News

UN: Enforced Disappearances Continue Unabated Globally

UN Working Group on Enforced Disappearances says more than 43,000 cases from 88 countries still remain to be clarified
More

Hurricane Odile Weakens, Still a Threat to Mexico

Odile could drench Baja California with as much as 46 centimeters of rain by Friday
More

Powerful Hurricane Threatens Mexico's Baja California

US forecasters have downgraded Odile to strong Category 3 storm, with top sustained winds of 205 kilometers per hour
More

Hard-hitting Films Tackle Homelessness at Toronto Festival

'Time Out of Mind,' 'Shelter,' and 'Heaven Knows What' all focus on characters struggling with homelessness, addiction on the streets of New York
More

After Tax Reform Triumph, Chile's President Faces Rockier Road

'Honeymoon' may be over for Michelle Bachelet as protests rise and economy, security outlook worsen
More

Mexico: Texas Governor's Border Deployment Politically Motivated

Rick Perry says he is sending up to 1,000 troops to Mexican border to deter criminal activity caused by drug cartels
More