Thomas Griesa

Argentina doesn’t want it back, and the bank would rather not be (a) held in contempt of court or (b) sued by the people who Argentina says the money now belongs to. So it’s going to ask the judge who put it in this situation to expand on his rather glib suggestion that “the money should be returned to the republic, simple as that.” Read more »

  • 30 Jun 2014 at 5:22 PM

(Technical) Default Watch ’14: Argentina

Today’s the big day for the uniquely recalcitrant debtor’s second big D in 13 years, now that its least favorite jurist has reiterated once again that, its best efforts not withstanding, it isn’t allowed to pay only the creditors it wants to pay while piously promising to “meet its obligations, pay off its debts and honor its commitments,” except maybe to these vulture usurers “trying to bring us down to our knees.” Well, maybe not the big day, since failure to pay today—and U.S. District Judge Thomas Griesa made very clear that the “illegal” payment “will not be made,” or he’s gonna start holding people in contempt—amounts to a mere “technical” or “selective” default for 30 days. Then, maybe Moody’s will do something about it. Read more »