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Argentina Makes $161 Million Bond Payment & Is Held In Contempt

Argentina Makes $161 Million Bond Payment & Is Held In Contempt

Argentina Makes $161 Million Bond Payment & Is Held In Contempt 150 150 Rex Securities Law

Argentina, who had been blocked from transferring bond payments directly to the bondholders by US District Judge Thomas Griesa, side stepped that order on September 30, 2014, by depositing $161 million in Nacion Fideicomisos SA in Argentina.

This  payment to the owners of the Par bonds was to satisfy the reduced amount the holders had agreed to take for the 2001 default. Judge Griesa had ruled that Argentina can’t pay restructured bond holders until it compensates the hedge funds that instituted the litigation in US Courts against Argentina for failing to pay the full value of the bonds which were defaulted on more than 10 years ago.

Judge Griesa has declared Argentina in contempt of court for failing to comply with his order.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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