Argentinian government is taking over Vicentin?

[antipodean]

Great leaders always produce extremely varied reactions. I would describe her in far more positive terms.

Just out of curiosity, do you live here in Capital Federal, or in the Provincia?

https://www.infobae.com/politica/20...narios-argentinos-antes-de-su-tragica-muerte/

"What was in the envelope that passed into the prosecutor's hands before he was found dead in his bathroom?"

"Transfer a type of information for your knowledge that could have caused his death. There was a lot of material linking Cristina-Iran; Cristina-private accounts; Cristina currency evasion; everything they managed to find against the president, ”

Those files, he explained, were obtained during the contractual relationship that the spy had when working with Paul Singer, founder and CEO of NML Capital Limited, one of the funds that disputed with the Argentine state the payment of the debt in times of Kirchnerism.

Maybe explains why Albie was so quick to get on a plane and go to Jerusalem to "build bridges" ...

Am genuinely curious to know if her fans would turn their backs on her for murder and massive corruption if / when indisputable evidence comes to light, or they would simply shrug and say "oh well, we all make mistakes, she was still a great leader" or "oh but he had it coming, she protected us" .... like many Germans or Russians of a certain age group would say until the day they died. It's hard to switch football teams after investing so much in supporting them over the years and personality cults are often no different.

 

[Dougie]

Those files, he explained, were obtained during the contractual relationship that the spy had when working with Paul Singer, founder and CEO of NML Capital Limited, one of the funds that disputed with the Argentine state the payment of the debt in times of Kirchnerism.

Paul Signer also hired spies to dig into the past of Donald Trump, which eventually turned into the Steele Dossier and led to Russiagate. He was supporting Marco Rubio at the time.

 

[gracielle]

Am genuinely curious to know if her fans would turn their backs on her for murder and massive corruption if / when indisputable evidence comes to light, or they would simply shrug and say "oh well, we all make mistakes, she was still a great leader" or "oh but he had it coming, she protected us" .... like many Germans or Russians of a certain age group would say until the day they died. It's hard to switch football teams after investing so much in supporting them over the years and personality cults are often no different.

Probably a lot of them will deny it even if shown an authenticated photo of CFK holding a smoking gun in her hand.

 

[gracielle]

Alberto Fernández ratificó su decisión de expropiar, pero no descartó a Vicentin como socio minoritario en un holding mixto

El Presidente explicó a las autoridades de la empresa agrícola concursada que no tiene otra opción jurídica y reveló su intención de establecer un fondo fiduciario administrado por el Banco Nación con la participación clave de YPF Agro

www.infobae.com

12 June 2020
The President explained to the authorities of the bankrupt agricultural company that he has no other legal option and revealed his intention to establish a trust fund managed by Banco Nación with the key participation of YPF Agro
....
The President revealed to CEO Nardelli that his intention is to create a trust fund with all the companies linked to Vicentin, and that his administration would be in the hands of Banco Nación due to its specific weight in the bankruptcy. Alberto Fernández added that YPF Agro would have a relevant role in the management of the trust fund, and that its prestige would allow it to regain the confidence of producers who are now reluctant to sell their grains to Vicentin. "I imagined a group with the name YPF-Vicentin," said the head of state in Olivos.

Before accessing the legal control of the agro-export company, and designing a medium-term business plan, the government needs to go through the 60-day intervention and achieve the final sanction of the law that establishes its expropriation. It will not be an easy procedure in the Chamber of Deputies, and the political crisis caused by the retentions of Resolution 125 is still remembered in Balcarce 50....

....Alberto Fernández will have to use all his institutional weight if he wants Vicentin to be a strategic partner of the eventual mixed holding. Two hours after the rapprochement meeting ended, Nardelli approved an official statement that implies the start of a very long legal battle that will begin today in Santa Fe and may end in the Supreme Court. "The President of the Republic, Dr. Alberto Fernández, told us of his determination to save the company, an objective with which we naturally agree, we do not agree with the expropriation procedure that the President considers to be appropriate for that purpose, " he said. Vicentin's board when commenting in writing on their meeting in Olivos....

Vicentin is already a political maze with no apparent way out.

Alberto Fernández ratificó su decisión de expropiar, pero no descartó a Vicentin como socio minoritario en un holding mixto

El Presidente explicó a las autoridades de la empresa agrícola concursada que no tiene otra opción jurídica y reveló su intención de establecer un fondo fiduciario administrado por el Banco Nación con la participación clave de YPF Agro

translate.google.com

 

[sts7049]

Probably a lot of them will deny it even if shown an authenticated photo of CFK holding a smoking gun in her hand.

it will still be macri's fault somehow

 

[antipodean]

https://www.infobae.com/economia/20...n-como-socio-minoritario-en-un-holding-mixto/

So it will be expropriated after all. His earlier comments were just lip service to make a token gesture that he listens.
Not sure how expropriation is the only legal way to rescue a company, especially when we are talking about a company with a liquidity issue and not a solvency issue. In most highly developed and democratic countries in the world expropriation does not even exist as a legal concept but state backed bailouts do and can still happen.

If concerned about foreign vultures swooping in and buying up the remains after insolvency, why not work on raising cash by issuing new shares only available to Argentines / Argentine residents as a first attempt? Since the government will need to inject cash either way, why not loan agreements with caveats that give it the assurances it needs or better yet, buy shares and take a stake that way instead?

Given there is competition in the Argentine market in this sector with a lot of large and "wealthy" companies, even wealthy agricultural producers, it is not possible to rule out the possibility of finding buyers. Sorry Albie, but your fairytale does not add up. It is simple piracy. Or worse yet, a corruption deal / scam as "partners of the state" so often suggest in Argentine circles and the never ending political charade that is any Argentine government. Fantastic news for Vincintin owners to essentially be relieved of their debts and get state protection to bulldoze competitors in the market to make even more money in the future plus what they have stashed away to date, but of course, it was never their idea to begin with. It was their "partners" idea to be a partner. Roll eyes.

I remember in the case of Air New Zealand back in the early 00's had a similar liquidity issue. The state purchased X amount of shares as well as underwriting some loans while making Y amount of shared available only to local shareholders and Z amount of shares available to global buyers. This generated the cash needed to get the company out of crisis and save it while the balancing strategic interests of the day etc.

 

[on the brink]

https://www.infobae.com/economia/20...n-como-socio-minoritario-en-un-holding-mixto/

So it will be expropriated after all. His earlier comments were just lip service to make a token gesture that he listens.
Not sure how expropriation is the only legal way to rescue a company, especially when we are talking about a company with a liquidity issue and not a solvency issue. In most highly developed and democratic countries in the world expropriation does not even exist as a legal concept but state backed bailouts do and can still happen.

If concerned about foreign vultures swooping in and buying up the remains after insolvency, why not work on raising cash by issuing new shares only available to Argentines / Argentine residents as a first attempt? Since the government will need to inject cash either way, why not loan agreements with caveats that give it the assurances it needs or better yet, buy shares and take a stake that way instead?

Given there is competition in the Argentine market in this sector with a lot of large and "wealthy" companies, even wealthy agricultural producers, it is not possible to rule out the possibility of finding buyers. Sorry Albie, but your fairytale does not add up. It is simple piracy. Or worse yet, a corruption deal / scam as "partners of the state" so often suggest in Argentine circles and the never ending political charade that is any Argentine government. Fantastic news for Vincintin owners to essentially be relieved of their debts and get state protection to bulldoze competitors in the market to make even more money in the future plus what they have stashed away to date, but of course, it was never their idea to begin with. It was their "partners" idea to be a partner. Roll eyes.

I remember in the case of Air New Zealand back in the early 00's had a similar liquidity issue. The state purchased X amount of shares as well as underwriting some loans while making Y amount of shared available only to local shareholders and Z amount of shares available to global buyers. This generated the cash needed to get the company out of crisis and save it while the balancing strategic interests of the day etc.

You are right in all points, except that the motive is not to help the country. This government could not care less about "soberania alimentaria", the Banco Nacion's bad loans, or the creditor's situation. All they care about is getting money to further their own ends.

In the past, every time a big enterprise was nationalized or privatized, someone close to the ruling party made out like a bandit. And the government got their hands on the precious "caja" - money to ensure the "faithful" remain faithful.

Some biggies got nationalized, then privatized, then nationalized again, every time with a different excuse, and always to the detriment of the long-suffering taxpayers.

I'm not that old, but have seen this happen time and again. Poor Argentina.

 

[Jeremias]

it will still be macri's fault somehow

Probably a lot of them will deny it even if shown an authenticated photo of CFK holding a smoking gun in her hand.

You'd need to understand that the "roban pero hacen" is a real thing, a real deep-seated thought.

I guess, by the way, that "roban pero hacen" is not such a bad line of thought... I mean, in my native country, if a politician did what is needed to do for the country, but were to steal some State money at the some time, I would forgive him (her). Diverting some State money is less important than actually doing good political things for the Nation.

 

[Jeremias]

Paul Signer also hired spies to dig into the (alleged) past of Donald Trump, which eventually turned into the Steele Dossier and led to Russiagate.

If it's dear Paul Singer and his debunked, deflated "Russiagate" dummy files, then one might infer that his "file" on Cristina, is the same bullshit.

 

[Redpossum]

If it's dear Paul Singer and his debunked, deflated "Russiagate" dummy files, then one might infer that his "file" on Cristina, is the same bullshit.

This exactly. I wouldn't trust anything that came from Mossad, ("By means of deception shalt thou make war"), and I certainly wouldn't trust anything that came from Singer.

I do respect both entities, not least of all for their ruthlessness, but I would never, ever trust either.