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

UN Ambassador Power Highlights Plight of Women Prisoners

She launches the 'Free the 20' campaign, aimed at profiling women being deprived of their freedom around the world More

Satellite Launch Sparks Spectacular Light Show

A slight delay in a satellite launch lit up the Florida sky early this morning More

Fleeing IS Killings in Syria, Family Reaches Bavaria

Exhausted, scared and under-nourished, Khalil and Maha's tale mirrors those of thousands of refugees from war-torn countries who have left their homes in the hopes of finding a better life 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.
Nobel Prize Winner Malala Talks to VOAi
X
August 31, 2015 2:17 AM
Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video Nobel Prize Winner Malala Talks to VOA

Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video War, Drought Threaten Iraq's Marshlands

Iraq's southern wetlands are in crisis. These areas are the spawning ground for Gulf fisheries, a resting place for migrating wildfowl, and source of livelihood for fishermen and herders. Faith Lapidus has more.
Video

Video Colombians Flee Venezuela as Border Crisis Escalates

Hundreds of Colombians have fled Venezuela since last week, amid an escalating border crisis between the two countries. Last week, Venezuelan President Nicolas Maduro ordered the closure of a key border crossing after smugglers injured three Venezuelan soldiers and a civilian. The president also ordered the deportation of Colombians who are in Venezuela illegally. Zlatica Hoke reports.
Video

Video Rebuilding New Orleans' Music Scene

Ten years after Hurricane Katrina inundated New Orleans, threatening to wash away its vibrant musical heritage along with its neighborhoods, the beat goes on. As Bronwyn Benito and Faith Lapidus report, a Musicians' Village is preserving the city's unique sound.
Video

Video In Russia, Auto Industry in Tailspin

Industry insiders say country relies too heavily on imports as inflation cuts too many consumers out of the market. Daniel Schearf has more from Moscow.
Video

Video Scientist Calls Use of Fetal Tissue in Medical Research Essential

An anti-abortion group responsible for secret recordings of workers at a women's health care organization claims the workers shown are offering baby parts for sale, a charge the organization strongly denies. While the selling of fetal tissue is against the law in the United States, abortion and the use of donated fetal tissue for medical research are both legal. VOA’s Julie Taboh reports.
Video

Video Next to Iran, Climate at Forefront of Obama Agenda

President Barack Obama this week announced new initiatives aimed at making it easier for Americans to access renewable energy sources such as solar and wind. Obama is not slowing down when it comes to pushing through climate change measures, an issue he says is the greatest threat to the country’s national security. VOA correspondent Aru Pande has more from the White House.
Video

Video Arctic Draws International Competition for Oil

A new geopolitical “Great Game” is underway in earth’s northernmost region, the Arctic, where Russia has claimed a large area for resource development and President Barack Obama recently approved Shell Oil Company’s test-drilling project in an area under U.S. control. Greg Flakus reports.
Video

Video Philippine Maritime Police: Chinese Fishermen a Threat to Country’s Security

China and the Philippines both claim maritime rights in the South China Sea.  That includes the right to fish in those waters. Jason Strother reports on how the Philippines is catching Chinese nationals it says are illegal poachers. He has the story from Palawan province.
Video

Video China's Spratly Island Building Said to Light Up the Night 'Like A City'

Southeast Asian countries claim China has illegally seized territory in the Spratly islands. It is especially a concern for a Philippine mayor who says Beijing is occupying parts of his municipality. Jason Strother reports from the capital of Palawan province, Puerto Princesa.
Video

Video Ages-old Ice Reveals Secrets of Climate Change

Ice caps don't just exist at the world's poles. There are also tropical ice caps, and the largest sits atop the Peruvian Andes - but it is melting, quickly, and may be gone within the next 20 years. George Putic reports scientists are now rushing to take samples to get at the valuable information about climate change locked in the ice.

VOA Blogs

More Americas News

Guatemala President Resigns Amid Corruption Probe

Spokesman says Perez Molina submitted his resignation after a judge issued an order to detain him in a customs fraud case, which already has led to the jailing of his vice president and the resignation of some Cabinet ministers
More

Guatemalan President Resigns Over Corruption Scandal

Otto Perez Molina submitted his resignation at midnight after a judge issued an order to have him detained for questioning
More

Video US Men's Soccer Team Eyeing Matches Against Peru, Brazil

The team is hoping to bounce back from a disappointing result in the Gold Cup, when Jamaica upset the US 2-1 in the semifinals
More

Video Scientists Predict Wet Winter in Drought-stricken US West

Strong El Nino could bring relief to dry areas, but punishing droughts to other regions around the globe
More

Guatemala Congress Opens Door for Prosecution of President

With 132 of 158 lawmakers approving a measure to strip immunity, prosecutors now can file criminal charges against Perez Molina just like any other citizen
More

Rio Olympics Official: Water Will Be Clean for Games

Recent report says waters so contaminated with bacteria and viruses from human sewage that athletes could become ill
More