U.S. judge says might lift Argentina debt injunctions if permitted
Fri Feb 19, 2016 7:16pm EST
U.S. judge says might lift Argentina debt injunctions if permitted
NEW YORK | By Jonathan Stempel
The U.S. judge overseeing Argentina's litigation with hedge funds holding its defaulted bonds on Friday signaled his willingness to lift injunctions that restrict the country from paying off some debts, provided that he regains jurisdiction to do so.
U.S. District Judge Thomas Griesa in Manhattan said it would serve the public interest to lift the injunctions, provided that Argentina repeals two laws concerning its debts and pays creditors who agree by Feb. 29 to settle.
He also praised Argentina's progress toward settling and the "sincerity and good faith" it has shown.
At issue were injunctions favoring so-called "me-too" plaintiffs in 49 lawsuits seeking the same relief as so-called holdout bondholders, including hedge fund manager Paul Singer's NML Capital Ltd, who have demanded full repayment.
More:
http://www.reuters.com/article/us-argentina-debt-idUSKCN0VT00B
LBN:
http://www.democraticunderground.com/10141353950
