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

    New EU Asylum Rules Could Boost Rightists

    New regulations will seek to correct EU failures in dealing with migrant crisis, most notably inability to get member states to absorb a total of 160,000 refugees

    More Political Turmoil Likely in Iraq as Iran Waits in the Wings

    Analysts warn that Tehran, even though it may not be engineering the Sadrist protests in Baghdad, is seeking to leverage its influence on its neighbor

    Forced Anal Testing Case to Appear Before Kenya Court

    Men challenge use of anal examinations to ‘prove homosexuality’; practice accomplishes nothing except to humiliate those subjected to them, according to Human Rights Watch

    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.
    Tensions Rising Ahead of South China Sea Rulingi
    X
    May 03, 2016 5:16 PM
    As the Philippines awaits an international arbitration ruling on a challenge to China's claims to nearly all of the South China Sea, it is already becoming clear that regardless of which way the decision goes, the dispute is intensifying. VOA’s Bill Ide has more from Beijing.
    Video

    Video Tensions Rising Ahead of South China Sea Ruling

    As the Philippines awaits an international arbitration ruling on a challenge to China's claims to nearly all of the South China Sea, it is already becoming clear that regardless of which way the decision goes, the dispute is intensifying. VOA’s Bill Ide has more from Beijing.
    Video

    Video Painting Captures President Lincoln Assassination Aftermath

    A newly restored painting captures the moments following President Abraham Lincoln’s assassination in 1865. It was recently unveiled at Ford’s Theatre in Washington, where America’s 16th president was shot. It is the only known painting by an eyewitness that captures the horror of that fateful night. VOA’s Julie Taboh tells us more about the painting and what it took to restore it to its original condition.
    Video

    Video Elephant Summit Results in $5M in Pledges, Presidential Support

    Attended and supported by three African presidents, a three-day anti-poaching summit has concluded in Kenya, resulting in $5 million in pledges and a united message to the world that elephants are worth more alive than dead. The summit culminated at the Nairobi National Park with the largest ivory burn in history. VOA’s Jill Craig attended the summit and has this report about the outcomes.
    Video

    Video Displaced By War, Syrian Artist Finds Inspiration Abroad

    Saudi-born Syrian painter Mohammad Zaza is among the millions who fled their home for an uncertain future after Syria's civil war broke out. Since fleeing Syria, Zaza has lived in Lebanon, Egypt, Jordan and now Turkey where his latest exhibition, “Earth is Blue like an Orange,” opened in Istanbul. He spoke with VOA about how being displaced by the Syrian civil war has affected the country's artists.
    Video

    Video Ethiopia’s Drought Takes Toll on Children

    Ethiopia is dealing with its worst drought in decades, thanks to El Nino weather patterns. An estimated 10 million people urgently need food aid. Six million of them are children, whose development may be compromised without sufficient help, Marthe van der Wolf reports for VOA from the Metahara district.
    Video

    Video Little Havana - a Slice of Cuban Culture in Florida

    Hispanic culture permeates everything in Miami’s Little Havana area: elderly men playing dominoes as they discuss politics, cigar rollers deep at work, or Cuban exiles talking with presidential candidates at a Cuban coffee window. With the recent rapprochement between Cuba and United States, one can only expect stronger ties between South Florida and Cuba.
    Video

    Video California Republicans Weigh Presidential Choices Amid Protests

    Republican presidential candidates have been wooing local party leaders in California, a state that could be decisive in selecting the party's nominee for U.S. president. VOA's Mike O’Sullivan reports delegates to the California party convention have been evaluating choices, while front-runner Donald Trump drew hundreds of raucous protesters Friday.
    Video

    Video Kurdish Football Team Helps War-Torn City Cope

    With the conflict still raging across much of Turkey’s predominantly Kurdish southeast, between the rebel PKK and the Turkish state, many Kurds are trying to escape the turmoil by focusing on the success of their football team Amedspor in Diyarbakir. The club is increasingly becoming a symbol for Kurds, not only in Diyarbakir but beyond. Dorian Jones reports from southeast Turkey.
    Video

    Video ‘The Lights of Africa’ - Through the Eyes of 54 Artists

    An exhibition bringing together the work of 54 African artists, one from each country, is touring the continent after debuting at COP21 in Paris. Called "Lumières d'Afrique," the show centers on access to electricity and, more figuratively, ideas that enlighten. Emilie Iob reports from Abidjan, the exhibition's first stop.
    Video

    Video Florida’s Weeki Wachee ‘Mermaids’ Make a Splash

    Since 1947, ‘mermaids’ have fascinated tourists at central Florida’s Weeki Wachee Springs State Park with their fluid movements and synchronized ballet. Performing underwater has its challenges, including cold temperatures and a steady current, as VOA’s Lin Yang and Joseph Mok report.
    Video

    Video Somali, African Union Forces Face Resurgent Al-Shabab

    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
    Video

    Video Nigerians Feel Bite of Buhari Economic Policy

    Despite the global drop in the price of oil, Nigerian President Muhammadu Buhari has refused to allow the country's currency to devalue, leading to a shortage of foreign exchange. Chris Stein reports from Lagos businessmen and consumers are feeling the impact as the country deals with a severe fuel shortage.

    Special Report

    Adrift The Invisible African Diaspora

    More Americas News

    Zika Outbreaks Expected in Large Portion of Americas

    Doctors involved in public health say getting across the message that a mild disease could be devastating to unborn babies is challenging

    Kerry: Countries with No Free Press Have Nothing to Brag About

    ‘No government ... can fairly claim respect if its citizens are not allowed to say what they believe,’ US Secretary of State said in recognition of World Press Freedom Day

    Olympic Flame in Brazil for a 90-Day Relay

    Flame has arrived in Brazil’s capital for 90-day relay around the country before reaching the famous Maracana Stadium in Rio de Janeiro for opening of Games on August 5

    Ex-Mexican Foreign Minister Nominated as UN Climate Chief

    Patricia Espinosa, who works as Mexico's ambassador to Germany, won high marks for presiding at annual UN climate negotiations in Cancun, Mexico, in 2010 when she was foreign minister

    Latin America Eyes Volcanoes to Fire Up Clean Development

    Mexico, Costa Rica aim to build on their position as Latin America's leading producers of geothermal power to help meet challenges they face of curbing planet-warming emissions, making their energy supplies secure

    Video Media Monitors Report Decline in Global Press Freedom

    A new report from Freedom House scoring 199 countries and territories shows global press freedom has fallen to its lowest point in more than a decade