Should Argentina Default On Its Debt?

[French jurist]

Don Alberto is a National Hero a freedom fighter, in the General San Martin tradition, who fought the de facto dictatorships...

I liked it because I loled.

 

[French jurist]

You seem to assume the Chinese are complete dimwits
Nobody in their right mind will lend Argentina anything unless the money is paid "back" in advance.

Thank you for being more explicit :wub:

 

[French jurist]

Don Alberto,

There's corruption indeed in Argentina, but this is a different subject.
So you prefer a happy few to get 4 digits investment returns and you don't mind thousands of Argentines (many kids in Congo died because of Singer aka Elliott Management) pay the consequences (for debts that even date back to the dictature = odious nature indeed).

Sorry, be more explicit.

 

[ajoknoblauch]

Don Alberto,

There's corruption indeed in Argentina, but this is a different subject.
So you prefer a happy few to get 4 digits investment returns and you don't mind thousands of Argentines (many kids in Congo died because of Singer aka Elliott Management) pay the consequences (for debts that even date back to the dictature = odious nature indeed).

Sorry, be more explicit.

If thousands of Argentines pay the consequences, perhaps Argentine government(s) bear some responsibility?

In fairness, they have provided Soccer For Everybody.

 

[French jurist]

If thousands of Argentines pay the consequences, perhaps Argentine government(s) bear some responsibility?

In fairness, they have provided Soccer For Everybody.

Sincerely Ajok, point me to one of your posts which was really helpful to the expats community. Please abstain to comment my posts, thanks.

 

[Don Alberto]

Don Alberto,

There's corruption indeed in Argentina, but this is a different subject.
So you prefer a happy few to get 4 digits investment returns and you don't mind thousands of Argentines (many kids in Congo died because of Singer aka Elliott Management) pay the consequences (for debts that even date back to the dictature = odious nature indeed).

Sorry, be more explicit.

It seems to me, that you don't mind bending the law. I do.

Judge Griesa must follow the law, and, in the case of the pari passu clause, follow what has become common use in international sovereign debt cases since 2000. Why did the e.g. 2005 (i.e. before Griesas pari passu ruling) Argentine restructured bonds include a collective action clause? because they woke up to the fact that the older prospects had neglected to protect against minority holdouts.

A pari passu clause in a commercial debt obligation tells the lenders that, except for senior (privileged) creditors (e.g. taxes), they are to be treated on an equal footing, paid pro rata in case of default (bankrupcy).

A pari passu clause in a sovereign debt obligation has no meaning except if it is either meant to be exactly what it says 'pari': equal 'passu': steps, or if you intend to lure the lenders.

We can go on and on debating the interpretations, but keep in mind:

How should lawyers be able to make huge sums of money from legislation if there weren't different opinions and interpretations of laws and clauses?
- - - -
BTW: It is good to know that Argentina has lots and lots of money so they can afford expensive ads in major newspapers in the US and Europe.

Edit: You don't seem to be aware that there were many thousand lenders, who had bought Argentine bonds in good faith, often as their pension savings, that many of them could not afford to have Argentina steal three quarters of their pensions, so several thousand holdouts have no connection at all to the hedge funds. They have been cheated by Argentina but cannot afford to drag a country in court for more than a decade.

 

[ajoknoblauch]

Sincerely Ajok, point me to one of your posts which was really helpful to the expats community. Please abstain to comment my posts, thanks.

Given the number of "likes," many of them have apparently been useful (including the one that you reference). I believe even you have liked some of them, though I won't take the trouble to look it up.

I have found many of your posts useful and thoughtful (though not the ones about soccer), but not immune to commentary or criticism.

 

[French jurist]

Given the number of "likes," many of them have apparently been useful (including the one that you reference). I believe even you have liked some of them, though I won't take the trouble to look it up.

I have found many of your posts useful, but not immune to commentary or criticism.

Coucouche-panier Ajok

 

[French jurist]

BTW:

Edit:

Didn't read it all but your BTW & edit were interesting

 

[French jurist]

Given the number of "likes," many of them have apparently been useful (including the one that you reference). I believe even you have liked some of them, though I won't take the trouble to look it up.

I have found many of your posts useful, but not immune to commentary or criticism.

T'es gentille toi, je t'aime bien