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UN Human Rights Council backs Argentina on US debt row. [Copy link] 中文

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Post time 2014-9-30 11:45:25 |Display all floors
UN Human Rights Council backs Argentina on US debt row.
Ninety-two percent, 92% of Argentine's International bondholders accepted a 70 percent cut on the face value of their bonds, but vulture funds hold-out investors refused.
The United Nations Human Rights Council has passed a resolution in Geneva condemning a group of American hedge funds that took Argentina to court.
An U.S judge also froze money Argentina had deposited in the Bank of New York Mellon, $539 million, to pay the bondholders who had accepted the restructuring deals in 2005 and 2010. That action caused international credit rating firms to declare Argentina in default again in July 2014.                                                
The resolution was tabled by Argentina along with Russia, Brazil, Venezuela and Algeria.
It was approved by 33 votes to five, with nine countries abstaining.
The United States, Britain, Germany, Japan and the Czech Republic voted against.  
http://www.latinpost.com/articles/22403/20140928/argentina-default-debt-news-2014-country-faces-contempt-hearing-ny.htm


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Post time 2014-10-2 21:09:53 |Display all floors
This week, Argentina deposited $161m in bond interest payments with the state-controlled Nacion Fideicomisos bank, to skirt the US court rulings.
The country had previously kept its funds with US-controlled Bank of New York Mellon which froze the funds paid by Argentina to repay the holders of its debt from when the country defaulted in 2001.
However, two hedge funds - NML Capital and Aurelius Capital Management - have demanded full repayment of the $1.5bn. Argentina was already in default when the greedy vultures bought the bonds.

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Post time 2014-10-2 21:40:04 |Display all floors
emanreus Post time: 2014-10-2 21:09
This week, Argentina deposited $161m in bond interest payments with the state-controlled Nacion Fid ...

fund managers work for 5cum of the earth!

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Post time 2014-10-2 22:28:19 |Display all floors
desaZview Post time: 2014-10-2 21:40
fund managers work for 5cum of the earth!

good thing is the whole world is watching this fiasco and how the The United States, Britain, Germany, Japan and the Czech Republic voted against it hohohoho.
Listen to the boss ehh

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