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

India PM Modi's Party Distances Itself From Religious Conversions

BJP under fire for being slow to rein in hardline affiliate groups allegedly trying to promote Hindu-dominant agenda by luring Muslims and Christians to convert More

Anti-Whaling Group Found in Contempt of Court

Radical environmentalists who threw acid and smoke bombs at Japanese whalers in the waters off Antarctica continue their campaign to disrupt Japan's annual whale hunt More

UN's Ban Urges End to Discrimination Against Ebola Workers

Ban was speaking in Guinea on the second day of a whistle-stop tour aimed at thanking healthcare workers of the countries at the heart of the epidemic 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.
US Decision on Cuba Underscores Divisions Among Miami Cubansi
X
Sharon Behn
December 19, 2014 9:34 PM
For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video US Decision on Cuba Underscores Divisions Among Miami Cubans

For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video Three Cities Bid for Future Obama Presidential Library

President Barack Obama still has two years left in his term in office, but the effort to establish his post-presidential library is already underway. The bid for the Obama Presidential Library is down to four locations in three states -- New York, Hawaii, and Illinois. As VOA’s Kane Farabaugh reports, each of them played an important part in the president’s life before he reached the White House.
Video

Video Cuba Deal is Major Victory for Pope’s Diplomatic Initiatives

Pope Francis played a key role in brokering the US-Cuba deal that was made public earlier this week. It is the most stunning success so far in a series of peacemaking efforts by the pontiff. VOA religion reporter Jerome Socolovsky has more.
Video

Video Fears of More Political Gridlock in 2015

2014 proved to be a difficult year politically for President Barack Obama and a very good year for the U.S. Republican Party. Republican gains in the November midterm elections gave them control of the Senate and House of Representatives for the next two years -- setting the stage for more confrontation and gridlock in the final two years of the Obama presidency. VOA National Correspondent Jim Malone has a preview from Washington.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.

All About America

AppleAndroid

More Americas News

Tourism, Farm Groups See Bigger Business With Cuba

'We are the closest major food producer that Cuba has,' an American Farm Bureau Federation spokesman notes
More

Castro Lauds US Outreach, Says Cuba to Remain Communist

In speech to lawmakers, Cuba's president says economic reforms will be accelerated, yet changes will be gradual
More

Raul Castro Steps Out of Brother's Shadow With US Deal

Cuban president scores diplomatic triumph, surge in support with this week's deal that ends decades of hostility with United States
More

US Report: Immigration Officials' Apprehensions Rose in 2014

Apprehensions of Mexicans fall 14 percent; those of individuals from other countries, predominantly in Central America, rise 68 percent
More

Strife, Mutual Interests Mark Cuba-US Ties

Island nation was once a vacation destination for Americans; over years, many Cubans sought refuge across the Florida Straits
More

Video Miami Cubans Divided on New US Policy

While older, more conservative Cuban Americans have promoted anti-Castro political movement for years, younger generations say economically, it is time for change
More